For the year, we reported organic sales growth of 23% and ongoing earnings per share of $5.21, which reflects more than 40% growth compared to the prior year and exceeded the original EPS guidance we set last January. The fourth quarter implied EPS guide came in a little bit lower than the street. Hi, good morning. And as you said, since the beginning of the pandemic, we've gotten to at least floor-like guidance here, and that's what $4.90 is. Those are probably two of the big kind of macro kind of impacts for us. So, those are the components on the topline. Were mindful of our cash on hand, were investing in the dividend, and weve been growing that dividend, and thats an important part of it. It's been tested by a major global pandemic. Market-beating stocks from our award-winning analyst team. We have filed Libre 3 here in the U.S. as [Inaudible] to the FDA last year. And how are you feeling about resolving the vitamin C interaction issue? Theyre starting to have a stronger impact on the portfolio. Moving to Diagnostics, where sales grew over 35% in the quarter. I mean, that is another area that we're working on and focused on and probably ask Bob to give you some color on that. And on top of that, there are a couple of swing factors that are specific to us, strength of our COVID testing business, thats provided us an awful lot of flexibility to reinvest back into our P&L over the last couple of years. We've got a lot -- we built a lot of capacity. Sure. Your line is open. I'll now provide more details on our 2021 results before turning the call over to Bob. I've talked about Libre 4, not necessarily what exactly is that, but we do have that as an active program. So, you've seen that in devices. Over the last few months, we've made progress in several important areas following the temporary shutdown of our infant formula manufacturing plant in Sturgis, Michigan, earlier this year. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law. So, I think this is part of the investments that we've been making clinically to be able to show the evidence on how this benefits a broader population. So between the strength of the base business and the COVID sales, we then felt that we had enough power here to navigate and push through some of these macro headwinds that are pretty significant, right? So, I think its a great opportunity, and I think this kind of fuels into this notion of this is a much larger market than has historically been contemplated as part of CGM, and thats what our strategy from the moment we entered the market has been thinking about it, right? And I think, Robbie, maybe these headwinds are a little bit under-appreciated in terms of the impact here. So internationally, I think you saw some similar headwinds there, but I think the biggest headwind for us was China and the lockdowns that occurred there. I will now turn the call over to Robert. Just for my follow up, Id love to get your reaction to the PASCAL data TCT and in the launch in the U.S. COVID testing sales were $2.3 billion in the fourth quarter with rapid testing platforms, including BinaxNOW in the U.S., Panbio internationally, and ID NOW globally, compromising approximately 90% of those sales. Transcript : Abbott Laboratories, Q3 2022 Earnings Call, Oct 19, 2022 Thanks, just one follow-up on Libre. And that diversity is not just on the business mix, but customers, payor types, obviously geographic footprint, and a very strong and resilient supply chain. Events | Abbott Laboratories Dont need to do M&A, but there is a lot of opportunities out there for us, and were going to apply that consistent framework of strategic and financially discipline in terms of how we look at that, okay. Second-quarter revenues rose 63% annually to $1.40 billion from, Shares of Kellogg Company (NYSE: K) were up 1% on Monday. And just one follow-up on the Medical Devices business, and it's encouraging to hear you talk about kind of quick improvement in the back half, and you did have that tough comp in 2Q. And I'd say the currency headwinds are very much kind of in play here for next year, right? And therere great opportunities for us to continue to invest organically to be able to drive the organic part of the business. And then obviously, a strong recovery in U.S. infant nutrition. That said, we will do everything possible to accelerate delivery of product to retailers so families can have access to the formula they need as soon as possible. And it's one of the questions I think we're leading in the digital transformation that's going to be more patient-centric care, whether it's with by wearables, whether it's connected devices, remote monitoring, etc. On the Structural Heart side, I talked about how this is such an important division for us and the focus that weve had there. Just a couple. Thank you. Now, let me, Vijay, I'll take the exchange first EMEA. ABBOTT PARK, Ill., Oct. 20, 2021 / PRNewswire / -- Abbott (NYSE: ABT) today announced financial results for the third quarter ended Sept. 30, 2021. So, we focused on that and. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. And there's great opportunities for us to continue to invest organically to be able to drive the organic part of the business. But like I said, we've got capacity to be able to deal with that. I think that one of the biggest impacts we have for me as I looked at our portfolio was regarding COVID was not being able to benefit the FMR indication and the NCD. We've had very good success in Germany in terms of upgrading the base and then with the benefits of Libre 3 actually seeing some conversions from competitive systems. Internationally, organic sales growth was impacted by a couple of transitory items, including supply constraints on Libre 1 in certain emerging markets which we expect to improve over the next couple of months. And as I said, were selling more. So, for example, were paying WIC rebates for competitive products since April actually, since March when we initiated the recall. And within that context, I think Abbott's pretty uniquely positioned here. Strength of our COVID testing business, that's provided us an awful lot of flexibility to reinvest back into our P&L over the last couple of years. You mentioned COVID as a factor here. So with that, we'll wrap up, and thank you for joining us today. And if you look at what we did in December, that would put us at about a 10% market share, which is I think is pretty good. It's a different business model, as I talked about it, more of a direct-to-consumer wellness subscription model, and we're on target here to come out of the gate to that in Q1. So, it also provide us an opportunity to make some strategic choices to strengthen our business and to strengthen our position and build our momentum. I always appreciate you like to get at the next year's number in a couple of different ways, Robbie. Thanks, Robert. Our next question comes from Matt Taylor from UBS. Moving to diagnostics, where COVID test sales of $1.7 billion were significantly higher than expectations, but lower compared to last year, which resulted in a modest decline in sales growth overall. Is This Dividend King a Buy Near Its 52-Week Low? Your line is now open, sir. irket, bilinen ilalar formle etmek iin 1888'de ikagolu doktor Wallace Calvin Abbott tarafndan kuruldu; Bugn tbbi cihazlar, tehisler, markal jenerik ilalar ve beslenme rnleri satmaktadr. Thanks. And in September, we began production of several Similac products, which we expect will begin to reach retail store shelves over the coming weeks. Now, what governments have realized is that they do need to make some investments, and they do need to hold some level of testing inventory in their countries. I would now like to introduce Mr. Scott Leinenweber, Vice-President, Investor Relations, Licensing and Acquisitions. Hey, thanks for taking the question. Before we get started, some statements made today may be forward-looking for purposes of the Private Securities Litigation Reform Act of 1995, including the expected financial results for 2022. We've got a lot of upcoming launches and products that we have launched, so Libre 3, Amulet, Aveir, CardioMEMS, Navitor, we expect to be launching next year here in the U.S., and EnSite X mapping system, launching a new ablation catheter into the market globally next year also. Were also taking steps across our manufacturing network to expand capacity and redundancy. So. All participants will be able to listen-only until the question-and-answer portion of this call. And then just as a follow-up to the previous question, could you remind us where you are on share repurchases and your view towards if youre not using the cash for M&A, what you will be using the cash for? On the FX side, I dont know, Bob, do you have a comment on there? Maybe just as a follow-up to that, Robert, you were talking about the cost structure at Abbott, and this is something were hearing from basically everyone that inflation, supply chain, etc. Obviously, Robert talked about a lot of the opportunity, some of the opportunities, even more that we have to drive growth in our medical device business as well as in diagnostics. And as a result of our strong performance through the first six months, were raising our EPS guidance for the year. Rapid tests were proven to be very important and highly practical tools. Two product-related questions from me, first I wanted to start with Libre. I mean, obviously, valuations have obviously come down somewhat, and weve got the capacity, as you said, in our balance sheet and that flexibility. Moving to established pharmaceuticals, or EPD, where sales increased nearly 6% in the fourth quarter and over 10% for the full year. And that's the other piece of the business, so high single digit growth excluding COVID. Atea Pharmaceuticals, Inc. Q2 2022 Earnings Call Transcript Wednesday, 11 May 2022 > nasdaq. But how should we be thinking about the diabetes franchise and Abbott's desire to kind of leverage the positioning there with other products, either insulin delivery devices or other portfolio ads as we move into 2022 and beyond? Robert Ford -- Chairman and Chief Executive Officer. A lot of that has been from the benefit of COVID testing sales, which are at healthy margins and still healthy reinvestment against that. The headline organic Ex-COVID in 3Q was three percentage low singles. And then with the value proposition that Libre has, it provides us, I think I know what your model is saying. Thank you, operator, and thank you for all of your questions. Its interesting as weve been looking at this, theres definitely interesting impacts in terms of ranges of these pricing. And then I think there's really three factors there. On your question on lingo, Vijay, we have factored in a launch into next year. And if you look at a lot of the financial and consumer indicators, retail, housing, auto, etc., those tend to point towards an increased riskier recession. Your line is now open. But obviously, this relates only to the U.S. Were actually going to be launching an AID system in Europe with our partners in Europe in Q4 with Libre 2. And I'm looking to be able to get a lot of leverage out of those investments that we've made historically, and at the top-line the way it kind of laid out comes through, and the leverage falls through. Thanks so much. ET. Thanks for taking the questions. And we believe that there's opportunities here for upside to that. I think it was, maybe versus 63 of MitraClip. Were making progress in Nutrition to drive share recovery and our Adult business and international growth opportunities still remain very strong. So I think the demographic trends are are still very favorable and procedures and routine routine testing, they're going to come back, whether it's a month, two months, etc. I'll now turn to Nutrition, where, as you know, we initiated a voluntary recall in February of certain infant formula products manufactured at one of our U.S. facilities. That's something that J&J kind of flagged for people. We also boosted production in our global network to increase infant formula supply to the U.S. And in molecular diagnostics, excluding COVID testing, sales grew double digits in both U.S. and internationally as we continue the rollout of our Alinity instrument for molecular testing. And as I said previously, I dont think we fully benefited yet from the indication expansion that we received for the functional MR. And also we've heard a lot of broader sizes to better fit more anatomies and give them more of that flexibility. Our Services . Timing, we expect to launch our first products outside of the United States toward the second half of this year. In fact, we delivered roughly the same volume of formula to our U.S. customers this past quarter as we did during the three months prior to the Recall. Good morning, and thank you for standing-by. The cardiovascular portfolio, device portfolio, there is growth. Clearly, there's potential upside with the increased COVID testing outside of that $2.5 billion revenue stream that you're expecting the early part of the year. Supply is back to normal. In diabetes care, sales growth of nearly 30% for both the fourth quarter and full year was led by FreeStyle Libre, our market-leading continuous glucose monitoring system. I'd like to jump off a little bit from the MitraClip conversation and try and peel apart the double-digit growth in structural heart this quarter. Thats helpful. This is a market where whether its in the U.S. or in Europe, it predominantly drives around primary care, primary care call point, primary care scale, specifically in the U.S. DMEs, and this is a segment where we do very well, if you do an audit of prescriptions by physician class, Libre has taken about 80% market share of the primary care Rxs, so the team has been working on that. We've never believed that. So you translate all that into real strong, sustainable strategic financial health, whether it's growing revenues, cash flows, dividends, we've got a rock solid balance sheet. And so as I said in my opening remarks, at the current rate, that's about 2% headwind on the top line for the year. We forecast COVID testing-related sales of $6.1 billion, which includes year-to-date sales through June of $5.6 billion and projected sales of approximately $500 million over the next few months. So that also plays a role together with the inflation aspects that we're facing. We have done the work to be able to address that. [Operator Instructions] This call is being recorded by Abbott. It will range from 30% to 80% in terms of pricing, and really the magnitude here depends on whether it's a national or regional process. I think, Robert Funck mentioned $0.10 of FX impact in Q4, should we annualize that to $0.40 of FX impact for next year. And one of the things that always strikes me is Abbott is very large and diagnostics, number one and number two in most of your end markets. We are going to be launching into, what I would call a little bit of a challenging environment, so weve taken that into consideration here, but I think that the long-term growth opportunity of building this kind of business, a wellness subscription like model, with the platform that weve built and the scale that we have, I think is a great growth opportunity for us. So, Robert, when we look at '23 for USP, is it -- the debate just around market share, and I'm assuming from a manufacturing standpoint, you should be clean in '23. We will be updating it as we go along. We've gone through this in some other parts of our business, so we do expect this value-based procurement or pricing here to play out. So, I think the locking mechanism - yeah, I think we took a field action. Q4 2021 26 Jan 2022: Q4 2021 Earnings Call Transcript: Q3 2021 20 Oct 2021: Thank you. Income investors can snatch up shares of Abbott and its 1.9% dividend yield at a forward price-to-earnings ratio of 21.8, just slightly below the medical devices industry average of 22.6. Is there -- I guess, that $1.74-ish for back half, that's below the back half of 2019. Yeah. Yeah, theres some noise that happens here with one supplier, another supplier and we deal with it. Thanks, Scott. It sounds like you guys have made some good progress there. And as we grow those businesses that will have a positive impact overall on our gross margin profile. We've got macro headwinds that everybody else has. So if there's some sort of interruption in insulin delivery from the pump, what is understood clinically is that the ketone levels will rise earlier than the glucose levels, and to be able to have that ketone level -- that continuous ketone level measurement is an added safety feature for that pump environment, and I think it does provide, I guess, a step ahead in terms of innovation, in terms of pump integration. So all those kind of combinations are the challenges that a lot of companies are going to face. During the year, we placed more than 3,000 Alinity instruments for immunoassay and clinical chemistry testing, with approximately two-thirds of those placements coming from share capture. Yeah, it cut out a little bit. The back half of mid-single to high single --. Based on our performance for the first six months, we increased our earnings per share guidance to at least $4.90 for the full year. We already transitioned well over half of our users with the vast majority of the remaining users expected to move to Liberty 3 by year end. So some of these costs, like I said, are more onetime in nature. So, thats really the challenge. Maybe my first one for you. Yes, sure. In other areas of the business, that flexibility doesn't exist. An archived edition of the webcast will be available later that day. But the macro environment is -- just because the valuation has come down, I mean, it's challenging and dynamic for all the companies, even the ones that have seen these valuations come significantly down. Obviously, the exciting news this quarter was the type two basal LCD from CMS. I was just wondering if you could talk about expectations for gross margins going forward longer term, if things normalize and if you could kind of see those levels in 2023, if things improve or just pluses and minuses on gross margins longer term. These non-GAAP financial measures are reconciled with the comparable GAAP financial measures in our earnings news release and regulatory filings from today, which are available on our website at abbott.com. Your line is open. Weve gone through this in some other parts of our business, so we do expect this value-based procurement or pricing here to play out. I think your other question was on vitamin C. Yeah, we have completed the clinical work on the vitamin C. I'll provide updates at the appropriate time. So the guide is assuming some impact here in the back half. 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