Abbott Labs' profits soar; Nipro opens First US Facility

Heart devices and glucose monitors see Abbott profits soar

Abbott Laboratories’ Q2 earnings saw double-digit growth, thanks to sales of its glucose monitors and strong demand for heart devices, Reuters reports.

Sales of devices, like those used in heart procedures, have been boosted as a glut of older adults caught up on surgeries deferred during the pandemic.

Sales of continuous glucose monitors, such as Abbott's FreeStyle Libre, as well as those of rivals from DexCom, have been boosted by increasing diabetes care awareness.

The Q2 earnings is a bright spot for the company, against the background of liability legal challenges, which the company is facing in connection to its infant formula.

The first trial against Abbott – over claims its formula for preterm infants causes a potentially deadly bowel disease – got underway.

Abbott says its products for premature infants are life-saving and branded the lawsuits “meritless”.

Medical device firm Nipro opens first US manufacturing facility 

Japan-based global healthcare and medical device company Nipro Medical Corporation is opening its first North American manufacturing facility in Greenville, North Carolina. 

The $398mn development will reduce the company’s global transportation needs, and cut down on carbon emissions. 

The facility will produce state-of-the-art medical devices that support patients with diabetes, chronic kidney disease, and other renal health issues. 

Nipro Senior Managing Director of Global Business at Tsuyoshi Yamazaki said: “We are thrilled to start manufacturing our cutting-edge medical devices in the US.

“The North Carolina plant will support local healthcare professionals and patients with a stable supply chain and reduced transportation costs. Our close proximity to customers will allow us to better respond to their needs and provide them with timely and effective solutions.” 

Beckman Coulter's €10mn Ireland diagnostics investment 

Healthcare diagnostic solutions multinational Beckman Coulter has announced a €10 million investment in its Diagnostics production plant in the Republic of Ireland.

The company, headquartered in California, has 11,000 global team members and is part of Danaher, a leading global life sciences and diagnostics innovator.

Every hour globally an estimated 1 million medical samples are analysed in hospitals using Beckman Coulter instruments, the company says. 

“I’m incredibly happy about Beckman Coulter’s significant contributions to my home country, Ireland, and also to enhancing healthcare every day,” said Kevin O’Reilly, who was recently appointed as President of Beckman Coulter Diagnostics. “We produce cutting-edge diagnostic tools here that are critical to the delivery of healthcare across the globe.”