Abbott sees no hit to demand for COVID-19 tests from vaccine
"It's clear that the need for testing is large and it isn't going away," Chief Executive Officer Robert Ford said on a post-earnings conference call.;
US: Abbott Laboratories (ABT.N) said on Thursday demand for its coronavirus tests will likely remain high even after a safe and effective vaccine is available as the medical device maker forecast full-year profit above analysts' estimates.
Drugmakers across the globe are racing to ready a vaccine for the respiratory illness and experts say it could take 12-18 months to develop one.
"It's clear that the need for testing is large and it isn't going away," Chief Executive Officer Robert Ford said on a post-earnings conference call.
"Even when you have a vaccine ... I can see patients going to physician's office with a fever, and they want to know is it influenza? Is it the flu? Is it COVID?"
Since March, Abbott has won U.S. authorization for five coronavirus tests, including one that can deliver results within minutes and is used at the White House, shielding it from a slide in demand for its medical devices and helping it beat second-quarter profit estimate.
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