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Abbott’s Covid Testing Sales Rival Those of Late 2020

Surging virus cases tied to the omicron variant lifted Abbott Laboratories’s Covid-19 testing sales in the latest quarter to nearly match their highest earlier levels. 

Abbott reported $2.3 billion in virus-related testing revenue for the fourth quarter, falling just short of the unit’s $2.4 billion in sales in the year-earlier period, when the world was in the grip of a similar sharp increase in infections. The company recorded $7.7 billion in Covid testing sales in all of 2021.