For the full year, Abbott’s net sales fell 8.1% to $40.1 billion, hampered by a 39.4% plunge in diagnostics sales associated with the ongoing decline in demand for COVID products.
Amgen revenue rises 4% while Pfizer posts quarterly loss
The decline in COVID products as the pandemic has shifted into an endemic phase was to be expected but has shown its impact on the balance sheet of major pharma companies throughout the Q3 earnings season.