CLAIM #2899 · Abbott Laboratories (ABT) · 2022Q2 earnings call · Jul 19, 2022 · due Dec 31, 2023
“COVID testing is one that, to simply assume, that there won't be any COVID testing next year. We've never believed that.”
Robert Ford · CEO
In context
“ucture. I talked about this in previous calls, too, and we've got a program in place now where we're looking at our cost structure. The hurdles in terms of investment have obviously increased given this macro environment. We're not going to put any risk to our long-term growth platforms, but we're definitely looking at our cost structure and see where we can improve. And the inventory is important, as we move into this inflationary period here. So we're ensuring that we've got the right amount of inventory. So I put all that together, Robbie. We've got macro headwinds that everybody else has. Regarding Nutrition, I think our performance is well aligned to where we planned and where I see us ending up end of the year is ultimately where our forecast -- the forecast that we laid out. COVID testing is one that, to simply assume, that there won't be any COVID testing next year. We've never believed that. The question is just your ability to forecast beyond 3 to 6 months, that's the challenge. So fundamentally, I think our business remains very strong. We've got leading positions in attractive long-term growth markets, strong pipeline, and I'm sure we'll talk about some of that today also. We've got a lot of ongoing, upcoming launch activity and a strong balance sheet that provides us a lot of strategic and financial flexibility. So it's difficult to pin a number on it right now, Robbie. But at a high level, those are the elements that we're working with and, ultimately, like to see some of these elements play out over the next couple of months here. Robert Marcus: Great. Maybe just as a follow-up to that, Robert. You were talking about the cost structure at Abbott, and this is somet”
Verify independently
SEC filings for ABT ↗ · Claim quote is verbatim from the 2022Q2 earnings call.