Abbott Laboratories’ fourth-quarter revenues rose just 2.3% year-over-year to $10.7 billion, falling short of analysts’ consensus of 4% growth. Medical Devices sales were flat at $2.9 billion as slower procedure volumes in the cardiovascular and neuromodulation franchises offset gains in its structural heart portfolio. Diagnostics revenues increased 1.8% to $3.4 billion, weighed down by lower COVID-testing volumes and a temporary backlog in laboratory instrument installations. Adjusted diluted earnings per share declined 5% to $1.18, reflecting higher research and development spending and integration costs for recent acquisitions.

To accelerate faster-growing segments, Abbott committed $536 million to build a state-of-the-art nutrition manufacturing facility in Bowling Green, Ohio, creating 450 jobs and targeting full production of hypoallergenic formulas by mid-2026. In December, Abbott closed its $1.3 billion acquisition of Osmolife Therapeutics, a specialty diagnostics firm focusing on kidney function biomarkers. Management expects the deal to add roughly $200 million in annual revenues by 2027, leveraging Abbott’s global salesforce to expand Osmolife’s tests into 30 new markets. The company also highlighted promising trial data for its next-generation continuous glucose monitoring sensor, which achieved a 12-month average accuracy improvement of 15% compared with its currently marketed device.