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CLAIM #3184 · Abbott Laboratories (ABT) · 2024Q3 earnings call · Oct 16, 2024 · due Dec 31, 2028

When we put out the $10 billion target, Larry, we talked about a compound annual growth rate of 15%. So, we're ahead of that, and we're going to work hard to make sure that we stay ahead of that, and we continue to gain share.

Robert Ford · CEO

PENDING
graded after results covering Dec 31, 2028 are reported

How to check this claim

Look at: Libre product revenue year-over-year growth rate (annual)

It came true if: Annual revenue growth rate > 15%

Where: Company-disclosed segment/product revenue (10-K / earnings release, Libre revenue figures)

In context

rom day one. And I don't think that you're going to have some changes in the market when you've got a market that's, whatever, $12 billion, $13 billion, growing 15%. There'll be more players for sure, there'll be more competition for sure. But we feel good about our position and the strategy that we've built. We've thought about this not just for the next year, we've been thinking about this, what is it going to look like a decade from now and how we built our portfolio and our position. So, I feel very good about this market. And I don't think there's anything fundamentally here that's significantly changed, at least from our internal way of thinking about it. So yes, I think this is a great opportunity for us. Libre is -- it will be a $6 billion-plus product. It will grow 20% this year. When we put out the $10 billion target, Larry, we talked about a compound annual growth rate of 15%. So, we're ahead of that, and we're going to work hard to make sure that we stay ahead of that, and we continue to gain share. We'll add $1 billion of revenue this year, add 1 million users. You got opportunities in type 1s on the pump side, on the connectivity side with pens. You've got opportunities with type 2s and basal. I mean I think that's just really still so much opportunity in those markets. So I feel very good about it. And as we've talked about Libre, we always viewed it as a platform. So you mentioned Lingo, glad to see that launch. Just as a reminder, we're really focusing on a very different population with this technology, right? We're targeting people that don't have diabetes. So it's a little bit of a different kind of business model, sale model. But so far, we've seen really, really good early interest. Great, great feedback from the users so far. The app, the data, the website, the Hello Lingo

Verify independently

SEC filings for ABT · Claim quote is verbatim from the 2024Q3 earnings call.