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Abbott’s 2021 Forecast Tops Analysts’ 2022 Target on Covid Tests

  • Earnings to top $5 a share in 2021; analysts had $4.61 in 2022
  • Company sold 300 million coronavirus tests in fourth quarter
United Airlines Launches Free Transatlantic Covid-19 Test Pilot Program
Photographer: Angus Mordant/Bloomberg

The coronavirus pandemic, responsible for profound losses around the world in 2020, has created a windfall for Abbott Laboratories.

The health-care powerhouse sold 300 million tests to detect and track the outbreak in the fourth quarter alone, the company said in a statement Wednesday. That generated $2.4 billion in sales from products that didn’t exist a year earlier.