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MarketScreener Homepage  >  Equities  >  Nyse  >  Abbott Laboratories    ABT

ABBOTT LABORATORIES

(ABT)
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Abbott Laboratories : RECEIVES FDA EMERGENCY USE AUTHORIZATION FOR ITS COVID-19 IGM ANTIBODY BLOOD TEST

10/13/2020 | 10:56am EST

ABBOTT PARK - Abbott (NYSE: ABT) announced today that the U.S. Food and Drug Administration (FDA) issued Emergency Use Authorization (EUA) for the company's AdviseDx SARS-CoV-2 IgM (Immunoglobulin M) lab-based serology test for use on the ARCHITECT and Alinity platforms.

IgM antibody testing can play an important role in understanding if someone has developed antibodies in response to the virus, indicating a recent or prior infection.

The new IgM antibody test is Abbott's latest test to support in the fight against COVID-19. Since the start of the pandemic, Abbott has received emergency use authorization for seven tests, including molecular tests, a rapid antigen test and an IgG antibody test.

'Abbott has developed tests to detect the virus at each stage of infection so doctors and their patients are equipped with knowledge of how they are responding to the virus and progressing through recovery,' said Robert B. Ford, president and chief executive officer, Abbott. 'Antibody tests will continue to play an important role to better understand the virus, the prevalence of COVID-19 in an area and where a patient may be in their recovery.'

Understanding a person's immune response with antibody tests

While molecular tests detect whether someone has the virus, antibody tests determine if someone had a previous infection by detecting antibodies, such as IgM and IgG.

Abbott first developed an IgG blood test, which often is the antibody that is longer-lasting in the body after infection. This test has been widely adopted and continues to play a key role in understanding if someone has recovered from the virus, as well as contact tracing and epidemiological studies.1

The IgM antibody, in comparison, is most useful for determining a recent infection as these antibodies become undetectable weeks to months following infection.2 Having this more complete picture of where a patient is in their recovery can help healthcare providers determine if treatment, isolation or follow-up visits are needed.

Similar to Abbott's IgG blood test, the IgM test has demonstrated high reliability in both Abbott's research and external virology laboratory studies. Abbott's data demonstrated 99.56% specificity and 95.00% sensitivity for patients tested 15 days after symptom onset.

About Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries.

Contact:

Kim Modory

Tel: 224-668-4696

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 33 873 M - -
Net income 2020 4 415 M - -
Net Debt 2020 11 794 M - -
P/E ratio 2020 44,0x
Yield 2020 1,34%
Capitalization 185 B 185 B -
EV / Sales 2020 5,81x
EV / Sales 2021 5,05x
Nbr of Employees 107 000
Free-Float 88,9%
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Abbott Laboratories Technical Analysis Chart | ABT | US0028241000 | MarketScreener
Technical analysis trends ABBOTT LABORATORIES
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 118,44 $
Last Close Price 107,90 $
Spread / Highest target 20,5%
Spread / Average Target 9,77%
Spread / Lowest Target -24,0%
EPS Revisions
Managers
NameTitle
Robert B. Ford President, CEO, Chief Operating Officer & Director
Miles D. White Executive Chairman
Robert E. Funck Chief Financial Officer & Executive Vice President
Roxanne Schuh Austin Independent Director
Samuel C. Scott Independent Director
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