CLAIM #3214 · Abbott Laboratories (ABT) · 2024Q4 earnings call · Jan 22, 2025 · due Jul 31, 2025
“So Libre 3 supply with two manufacturing sites up and running and I think you'll start to see throughout the next one or two quarters a change here and a little bit on the NBRxs on the TRxs.”
Robert Ford · CEO
In context
“ion. So Robert, I guess you talked about, it starts with the top line. You had another really strong year for CGM with over 20% constant currency growth of $6.5 billion in sales. So I'd love to hear you talk about your expectations for growth in 2025. The status of the Libre 3 supply issues and any color you have on the Lingo launch? Thank you. Robert Ford: Sure. So let me talk about Libre 3 supply. As we spoke about during the last call, Larry, there was a little bit of a mismatch, but our manufacturing coming up online and the demand that we were seeing, especially here in the US. That caused a little bit of friction there, but as I said, we were in process of getting our new manufacturing site up and running. I was there in November and seen the team and that's going now at full force. So Libre 3 supply with two manufacturing sites up and running and I think you'll start to see throughout the next one or two quarters a change here and a little bit on the NBRxs on the TRxs. I know you guys like to look at those quite often, I guess, those are an important metric to look at it, Larry, but they're not the only metric to see how the businesses are doing. I mean, I think you saw that in our Q4. We're able to grow the US 24%. So there are other elements that aren't measured. I think you also -- you guys also saw the impact of relying exclusively on those data's in Q3 as competitors had challenges also. So it's an important metric to look at, but I would say, it's not the only ones, and I think we've kind of shown that here. So Libre 3 is doing pretty well and it's just going to get better. As I look at 2025, I'd say there are some pretty interesting kind of growth drivers here for us. I'd say, first, as a base case, I still think there's under-penetration in the”
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SEC filings for ABT ↗ · Claim quote is verbatim from the 2024Q4 earnings call.