We’ve Shipped 1.4 Billion Covid Tests Since Pandemic’s Beginning

Abbott Laboratories has shipped greater than 1.4 billion checks because the begin of the pandemic, the corporate mentioned Wednesday.

Gross sales of diagnostic checks for Covid-19 have been an enormous revenue and gross sales increase to Abbott, which Wednesday reported fourth quarter earnings that beat Wall Avenue analysts’ expectations. Abbott reported fourth-quarter web earnings of $1.98 billion on revenues of practically $11.5 billion, which had been up 7%, as worldwide diagnostic gross sales and income from the corporate’s numerous portfolio of medical units and different healthcare merchandise additionally grew.

Abbott’s world Covid-19 testing gross sales hit $2.3 billion within the fourth quarter and the majority of that, or $2.1 billion, got here from Abbott’s household of speedy checks BinaxNOW, Panbio and ID NOW.

“Worldwide Diagnostics gross sales elevated 2.9 % on a reported foundation within the fourth quarter and elevated 3.3 % on an natural foundation,” Abbott mentioned in its fourth quarter and full 12 months 2021 earnings report. “International COVID-19 testing-related gross sales had been $2.3 billion within the fourth quarter, together with mixed gross sales of $2.1 billion from Abbott’s BinaxNOW, Panbio and ID NOW speedy testing platforms.”