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CLAIM #2980 · Abbott Laboratories (ABT) · 2022Q4 earnings call · Jan 24, 2023 · due Dec 31, 2023

if you take that comp out on the recall product side this year as we return to market, and look at the base business, obviously, without the COVID testings, we're going to be growing high single digits, probably at a higher end of that pre-pandemic rate, probably 8-plus percent.

Robert Ford · CEO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

parts here. I mean obviously, we run a -- the company has got a lot of business and business segments. But I mean, if you look at really the 2 areas I would say, Robbie, that kind of have had this effect of maybe sometimes distorting the results a little bit is our COVID testing business and the impact of the recall products last year, right? So from a COVID perspective in 2022, we actually sold more tests than we sold in 2021, and then obviously, the impact of Recall products, that was a negative. Both of those flip next year. So if you take those out of the equation, you kind of go back to what we were growing pre-pandemic, right, which was top tier, high single digits, 7% to 8% growth. That's what we grew in 2022, again excluding COVID and the impact of the recall products. And then if you take that comp out on the recall product side this year as we return to market, and look at the base business, obviously, without the COVID testings, we're going to be growing high single digits, probably at a higher end of that pre-pandemic rate, probably 8-plus percent. So I think it starts with the top line. And that's probably the #1 part of our guidance is obviously making sure that we feel that our top line is taking advantage of all the good parts, all the good product launches, et cetera, that we have. And from that perspective, I think a lot of what we're doing kind of supports that ongoing -- that ongoing high single-digit growth rate. If you look at our device portfolio, we'll be looking at high single-digit growth rate, low double-digit growth rate, a combination of both kind of recovery, the steady recovery procedures that we're seeing combined with all these product launches that we've got lined up that will ultimately have a full year impact, whether it's Libre 3, Amulet, Aveir, Navitor, CardioMEMS, Eterna on the neuromodulation side, o

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SEC filings for ABT · Claim quote is verbatim from the 2022Q4 earnings call.