Abbott Labs CEO expects strong COVID-19 testing demand in near term

FILE PHOTO: Abbott Laboratories logo is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, U.S., October 18, 2021. REUTERS/Brendan McDermid

January 11, 2022

(Reuters) – Abbott Laboratories Chief Executive Officer Robert Ford said on Tuesday demand for COVID-19 testing has surged globally and that sales of its tests should stay strong in the near term.

“We’ve obviously you know, had a pretty, pretty strong last couple of months of testing and we expect that to continue here in the more immediate future,” Ford said at the annual J.P. Morgan Health care conference.

He added his company has the capacity to support demand.

While testing demand will eventually dwindle, there will be a portion that is sustained, Ford said.

(Reporting by Amruta Khandekar; Editing by Aditya Soni)

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