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CLAIM #3112 · Abbott Laboratories (ABT) · 2023Q4 earnings call · Jan 23, 2024 · due Dec 31, 2024

I expect that to increase in 2024 to about 1 point of growth, total Abbott contribution.

Robert Ford · CEO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

trajectories, revenue contribution for each of those products. Do you still think there is a Fab 5? And where -- how they sort of factor into the growth, the 8% to 10% organic growth for 2024? Robert Ford: Yes. Thanks. I don't know if I regret using that terminology or not now, Danielle, but I guess I would say, yes, they are great products, and we didn't think about calling them that because they were going to be a flash in the pan for 1 or 2 years. We look at these as really long-term great growth opportunities that we have that will significantly add to the company over the next few years. And quite frankly, they have added a good amount of growth for us this year, and they'll accelerate. So I think this year -- sorry, in 2023, those 5 products represented about 0.5 point of growth. I expect that to increase in 2024 to about 1 point of growth, total Abbott contribution. So they're definitely stepping up and I'd say some of them, I would call market creating opportunities, tricuspid I would put over there, CardioMEMS over there, generating the clinical data, generating the data for reimbursement, generating referral pathways. We know how to do this, and we all want things to go pretty fast, especially with med tech products, right? But with products like this that have such significant growth opportunities, there's a certain amount of work that you need to do regarding clinical work as it relates to market expansion, development -- and market development. I'd say some of the other products on that list, I'd say, are probably more market conversion, and these are already attractive -- large attractive growth segments that we're targeting with our technol

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SEC filings for ABT · Claim quote is verbatim from the 2023Q4 earnings call.