CLAIM #3031 · Abbott Laboratories (ABT) · 2023Q1 earnings call · Apr 18, 2023 · due Dec 31, 2023
“I've talked about -- we've talked about this business being between 4% to 6% in terms of the target growth range, maybe towards the upper end of that range.”
Robert Ford · CEO
In context
“going to also sneak in a quick CardioMEMS as well. Nutritional, it's great to see the 10% performance, the strong U.S. recovery. It sounds like you're making solid progress. What's next -- when do we get back to normal in your view? And what is the new normal growth? And just to sneak in the CardioMEMS, jeez, I've been watching the CardioMEMS story, Robert, for over a decade back to St. Jude days. And I always thought it was great technology. What's Abbott's special sauce that you're driving such a superb performance? And where do we go from here with CardioMEMS. So why -- what's happening? Robert Ford: I guess on the Nutrition side, I think the team has made a lot of progress. They work incredibly hard at this. Our manufacturing and our market recovery are in line with our expectations. I've talked about -- we've talked about this business being between 4% to 6% in terms of the target growth range, maybe towards the upper end of that range. And ultimately, that's when everything kind of normalizes and you don't have some of these comps, that's what I expect this business to be in. Regarding CardioMEMS, this has been a little bit of a journey for us. I think we found the right combination here of what I would call, making the investments that we needed to make on the clinical -- generating the clinical data and the clinical trial. We've obviously had an expansion in our label that happened last year. But I think the biggest and most important part here is commercial execution on the ground and thinking about workflow in the hospital systems, right, managing that and addressing that and working with the hospitals to address this workflow has been probably the biggest impact that the team has had. And then we're going to conti”
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SEC filings for ABT ↗ · Claim quote is verbatim from the 2023Q1 earnings call.