North suburban-based Abbott makes the once popular rapid, at-home COVID-19 test BinaxNOW
Boxes of BinaxNOW home COVID-19 tests made by Abbott are for sale, Nov. 15, 2021, at a CVS store in Lakewood, Wash.
Abbott Laboratories’ sales of COVID-19 tests fell by a whopping 89% during the second quarter of this year compared with the same time last year — a drop that comes as the world attempts to move on from the pandemic.rapid, at-home COVID-19 test BinaxNOW. From April through June, Abbott sold $263 million worth of COVID-19 tests, compared with $2.3 billion during the same time last year.Abbott leaders said during an earnings call Thursday morning that the decrease was expected.
Abbott leaders, however, said the overall business, excluding COVID-19 sales, is strong. Abbott makes many other types of tests, medical devices and infant formula, among other products. Overall sales fell by 9.2% on an organic basis during the second quarter, when including COVID-19 testing sales. Excluding COVID-19 testing, overall sales grew by 11.5% percent in the quarter.The company saw growth in sales of medical devices, pharmaceuticals and nutrition products.
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