Base Business Strength Accelerates Abbott’s Growth

Abbott Chairman and CEO takes the stage at J.P. Morgan Healthcare to discuss how the company’s diverse business model drives sustainable growth.

Strategy and Strength|Jan.09, 2024

Balance. Relevance. Global presence. Performance. For more than 135 years, these four pillars have served as the framework upon which Abbott has built its leadership position in healthcare – and will enable the company to continue to deliver sustainable top-tier growth into the future.

This was one of the key insights Abbott Chairman and CEO Robert Ford delivered to industry leaders and investors at the 42nd Annual J.P. Morgan Healthcare Conference in San Francisco.

Another meaningful contributor to Abbott’s resilience through the pandemic and momentum in 2023 is its diverse business model. Featuring a market-leading portfolio that spans the healthcare spectrum, a highly productive pipeline of iterative and transformative products, a balanced customer mix and a global footprint, Abbott is a unique healthcare company with a proven track record of creating long-term value for shareholders. 

Here are additional highlights from Mr. Ford’s presentation.

  • With the company’s base business once again driving performance, Abbott has successfully transitioned from the impacts of the pandemic. At the time, Covid testing revenue quickly became a significant part of the company’s business – and that’s no longer the case today. In 2023, Abbott achieved double-digit organic sales growth1 in the underlying base business2 in each of the first three quarters reported thus far.
  • The company’s FreeStyle Libre portfolio of continuous glucose monitors (CGMs), which already realizes more than $5 billion in annualized sales, has transformed the way diabetes is managed and continues to improve people’s lives around the world. 
  • Integration with automated insulin delivery (AID) systems is a key opportunity for FreeStyle Libre technology to help more people with diabetes who use insulin. Abbott recently announced that Tandem Diabetes Care Inc.’s t:slim X2 insulin pump is the first AID to fully integrate with the new FreeStyle Libre 2 Plus sensor.
  • Abbott is leading in fast-growing markets – and creating new markets that address unmet needs and fuel growth. Last year the company introduced Lingo3, Abbott’s first consumer biowearable that leverages more than two decades of expertise in CGM technology, in the United Kingdom. The Lingo biosensor sits on your arm, tracks your glucose levels and streams the data to the app, which then provides personalized insights and customized coaching.
  • Abbott’s portfolio of groundbreaking cardiovascular devices offers solutions to people with life-threatening conditions.
    • Aveir DR, the world’s first dual-chamber leadless pacemaker system, has the potential to revolutionize the multibillion-dollar global pacing market.
    • Significant tricuspid regurgitation (TR) is a potentially life-threatening heart condition that affects more than 5 million people globally and for which there are very few treatment options. TriClip, Abbott’s minimally invasive device that reduces the backflow of blood caused by TR, has been available in Europe since 2020 and is currently being reviewed by the FDA for U.S. approval.  


1Organic sales growth excludes the impact of foreign exchange, the impact of exiting the pediatric nutrition business in China and the impact of acquiring Cardiovascular Systems Inc.

2Excludes impact of COVID-19 testing-related sales.

3 The Lingo system is not intended for medical use and is not intended for use in screening, diagnosis, treatment, cure, mitigation, prevention, or monitoring of diseases, including diabetes. The Lingo program does not guarantee that everyone will achieve the same results as individual responses may vary. It is best to speak to your doctor for advice on starting any diet or exercise regime or if you have an eating disorder or a history of eating disorders. Do not use Lingo if you are pregnant. Lingo is currently available in the UK.

Important safety information



Rx Only

Brief Summary: Prior to using these devices, please review the Instructions for Use for a complete listing of indications, contraindications, warnings, precautions, potential adverse events and directions for use.

Indications: The Aveir™ Leadless Pacemaker system is indicated for management of one or more of the following permanent conditions: Syncope, Pre-syncope, Fatigue, Disorientation. Rate-modulated pacing is indicated for patients with chronotropic incompetence, and for those who would benefit from increased stimulation rates concurrent with physical activity. Dual-chamber pacing is indicated for patients exhibiting: Sick sinus syndrome, Chronic, symptomatic second- and third-degree AV block, Recurrent Adams-Stokes syndrome, Symptomatic bilateral bundle-branch block when tachyarrhythmia and other causes have been ruled out. Atrial pacing is indicated for patients with: Sinus node dysfunction and normal AV and intraventricular conduction systems. Ventricular pacing is indicated for patients with: Significant bradycardia and normal sinus rhythm with only rare episodes of AV block or sinus arrest, Chronic atrial fibrillation, Severe physical disability.

Intended Use: The Aveir™ Leadless Pacemaker (LP) is designed to provide bradycardia pacing as a pulse generator with built-in battery and electrodes for implantation in the right ventricle and/or right atrium. The LP is intended to provide sensing of intrinsic cardiac signals and delivery of cardiac pacing therapy within the implanted chamber for the target treatment group. The LP is also intended to operate optionally with another co-implanted LP to provide dual-chamber pacing therapy.

The Aveir™ Delivery Catheter is intended to be used in the peripheral vasculature and the cardiovascular system to deliver and manipulate an LP. Delivery and manipulation includes implanting an LP within the target chamber of the heart.

Contraindications: Use of the Aveir™ Leadless Pacemaker is contraindicated in these cases:

  • Use of any pacemaker is contraindicated in patients with a co-implanted ICD because high-voltage shocks could damage the pacemaker and the pacemaker could reduce shock effectiveness.
  • Single-chamber ventricular demand pacing is relatively contraindicated in patients who have demonstrated pacemaker syndrome, have retrograde VA conduction, or suffer a drop in arterial blood pressure with the onset of ventricular pacing.
  • Programming of rate-responsive pacing is contraindicated in patients with intolerance of high sensor driven rates.
  • Use is contraindicated in patients with an implanted vena cava filter or mechanical tricuspid valve because of interference between these devices and the delivery system during implantation.
  • Persons with known history of allergies to any of the components of this device may suffer an allergic reaction to this device. Prior to use on the patient, the patient should be counseled on the materials (listed in the Product Materials section of the IFU) contained in the device and a thorough history of allergies must be discussed.

Adverse Events: Potential complications associated with the use of the Aveir™ Leadless Pacemaker system are the same as with the use of single or dual chamber pacemakers with active fixation pacing leads including, but not limited to: Cardiac perforation, Cardiac tamponade, Pericardial effusion, Pericarditis, Valve damage and/or regurgitation, Heart failure, Pneumothorax/hemothorax, Cardiac arrhythmias, Diaphragmatic/phrenic nerve stimulation / extra-cardiac stimulation, Palpitations, Hypotension, Syncope, Cerebrovascular accident, Infection, Hypersensitivity reaction to device materials, contrast media, medications, or direct toxic effect of contrast media on kidney function, Pacemaker syndrome, Inability to interrogate or program the LP due to programmer or LP malfunction, Intermittent or complete loss of pacing and/or sensing due to dislodgement or mechanical malfunction of the LP (non-battery related), Loss of capture or sensing due to embolization or fibrotic tissue response at the electrode, Increased capture threshold, Inappropriate sensor response, Interruption of desired LP function due to electrical interference, either electromyogenic or electromagnetic, Battery malfunction/ premature battery depletion, Device-related complications (Premature deployment, Device dislodgement/embolization of foreign material, Helix distortion), Death. As with any percutaneous catheterization procedure, potential complications include, but are not limited to: Vascular access complications; such as perforation, dissection, puncture, groin pain, Bleeding or hematoma, Thrombus formation, Thromboembolism, Air embolism, Local and systemic infection, Peripheral nerve damage. General surgery risks and complications from comorbidities; such as hypotension, dyspnea, respiratory failure, syncope, pneumonia, hypertension, cardiac failure, reaction to sedation, renal failure, anemia, and death.

MAT-2306873 v1.0 | Item is approved for US Use


Failure to use FreeStyle Libre systems as instructed in labeling may result in missing a severe low or high glucose event and/or making a treatment decision, resulting in injury. If glucose reading and alarms (if enabled) do not match symptoms or expectations, use a fingerstick value from a blood glucose meter for treatment decisions. Seek medical attention when appropriate or contact Abbott at 855-632-8658 or for safety info.