CLAIM #2962 · Abbott Laboratories (ABT) · 2022Q3 earnings call · Oct 18, 2022 · due Mar 31, 2023
“We do have it factored in into next year probably launching in the beginning of the year and then building from there. But we'll be launching, like I said, in a challenging environment, but I still think it's the right thing to do from a long-term perspective.”
Robert Ford · CEO
In context
“lationary pressures start to come down kind of as we get into next year. Robert Ford: On your question on Lingo, Vijay, we have factored in a launch into next year. We have not factored that launch here in the U.S. So it is an international launch. 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 gates to that in Q1. We are going to be launching into what I would call a little bit of a challenging environment. So we've 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 we've built and the scale that we have, I think, is a great growth opportunity for us. We do have it factored in into next year probably launching in the beginning of the year and then building from there. But we'll be launching, like I said, in a challenging environment, but I still think it's the right thing to do from a long-term perspective. Scott Leinenweber: Operator, we'll take one more question. Operator: And we'll take our last question from Travis Steed from Bank of America. Travis Steed: I did want to ask on China, how do you see the recovery shaping up there. There's going to be another headwind next year and any new VBPs that you see coming up in China? Robert Ford: Yes. It is going to be a little bit of a headwind. You can think about it as either currency and VBP. 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. I think the next area that we're looking at. We've gone through it with stents last year or 1.5 years ago, and the next area that we're looking at is probably on the electrophysiology side. That's probably the next cat”
Verify independently
SEC filings for ABT ↗ · Claim quote is verbatim from the 2022Q3 earnings call.