Abbott's diagnostic sales climb due to COVID testing

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Abbott reported that diagnostic sales rose for the fourth quarter of 2021, a trend driven mostly by the purchase of COVID-19 tests. The company also posted strong full-year growth compared to 2020.

For the fourth quarter of 2021 (end-December 31), Abbott's diagnostic sales were $4.471 billion, up 2.9% compared to the results reported for the same quarter in 2020. Abbott posted $2.3 billion sales from global COVID-19 testing in the fourth quarter of 2021

For the full year of 2021, Abbott's diagnostic sales were $15.644 billion, up 44.8% from the diagnostic sales reported for 2020. The company posted $7.7 billion in sales from COVID-19 tests for the full year.

Abbott has distributed more than 1.4 billion COVID-19 tests since the start of the pandemic.

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