Because we see this as a big opportunity for us to be a real player in this market. Thank you. And I think the team here has done a really good job. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be $5.00 to $5.10 for full-year 2021. Your line is open. But what we've seen now grow pretty significantly and I think it's aligned to the screening piece is the private side of the market, whether it's OTC, cash pay, whether it's a lot of companies, we've seen a lot of companies in the last couple of months here sign contracts with us to ensure that they've got rapid testing to be able to give to their employees. I'm really pleased to see that. And we're going to be investing in clinical trials. So I think it's a combination of kind of market expansion. I'll now turn over the call to Bob to discuss our results and outlook for the year in more detail. The revised full year forecast is modestly higher than the estimate we provided in July due to a shift in the mix of our business and geographic income. Obviously, if you look at our profiles right now, it's a little bit distorted because of the COVID piece. ABT earnings call for the period ending September 30, 2022. We've historically really focused on our organic pipelines and that continues to be highly productive. We're entering to very new and attractive gross segments across our portfolio and there's more products along the way there. And thank you. We've done over 5,000 remote programming sessions. Specified items reflect intangible amortization expense of $510 million and other net expenses of $154 million, primarily associated with acquisitions, restructuring actions and other expenses and litigation settlement income. And congratulations on the strong 3Q results. On Amulet, listen, we received approval in August. Abbott Laboratories 2021 Q3 - Results - Earnings Call Presentation SA Transcripts Wed, Oct. 20, 2021 Abbott Laboratories' (ABT) CEO Robert Ford on Q3 2021 Results - Earnings Call Transcript In terms of R&D, it's down to 6%, our SG&A is down to 25%. I think the good news here is that we don't really need M&A to be able to support what I think is pretty top-tier performance here. The global supply chains have not been able to keep up with strong demand out there. INVESTING. And yes, it has generated a lot of cash. Obviously, you're not heading to a hospital. Cloud service provider Dropbox, Inc. (NASDAQ: DBX) hasreported stronger-than-expected earnings and revenues for the third quarter of 2022 when the cloud service firm's user base grew by 6%. And I wanted to ask as well about your recent acquisition of Walk Vascular. Thank you. Real-time analyst ratings, insider transactions, earnings data, and more. Great. Return. There was a little bit of softness in Q3, but I like what we're seeing in terms of recovery. [Operator Instructions] Our first question comes from Robbie Marcus from JPMorgan. We ended the quarter with $50.4 billion of gross debt and $2.5 billion of cash on hand. And I want to see a little bit more in terms of how this pandemics unfolding here, especially on the COVID side but on the base business side. Thanks for that. In Diabetes Care, FreeStyle Libreand Libre Sensesales were $968 million in the quarter, which represents sales growth of 41.6 percent on a reported basis and 38.8 percent on an organic basis. That's not my aspiration for the TAVI space. So, yes, we are working on that. In Pediatric Nutrition, sales grew over 8.5% in the quarter, led by strong growth in the US from continued share gains in our infant formula and toddler portfolio. In its second-quarter earnings press release, the company forecast full-year 2022 COVID-19 test revenue of $6.1 billion, while sales through June 2022 already amounted to $5.6 billion. We want to be a Structural Heart leader. And I think that was a good strategy because it allowed our team to kind of prepare for that. Seeking Alpha's transcripts team is responsible for the development of all of our transcript-related projects. But I think the rapid test here is really the value proposition that's going to make sense going into next year. You've had a great year in devices so far, a bumper year in testing. Excluding COVID testing-related sales, organic sales growth was 12.1% versus last year and 11.7% compared to the third quarter of 2019. So we've made those internal investments, but we've also looked at where we could provide the best return to our shareholders. Thank you very much. In the nine months of 2019, worldwide sales were $23.590 billion. But alone it's not enough. See footnotes below. Cecilia Furlong -- Morgan Stanley -- Analyst. Yeah. We've had some consultants talk about potential for Abbott to add other analytes onto the platform and particularly the addition of ketone monitoring as a potential competitive advantage. Full-year adjusted earnings from continuing operations (excluding specified items of $1.45 per share) are now expected in the range of $5.00- $5.10 per share . We factored in a little bit of that minimum piece in Q4. Thanks. Thank you. Restructuring and cost reduction initiative expenses include severance, outplacement, and other direct costs associated with specific restructuring plans and cost reduction initiatives. S&P Return . Initial feedback has been super positive. Your line is open. The other, I'd say, key distinction we started to make is understanding kind of government purchasing of tests versus kind of private. Get daily stock ideas from top-performing Wall Street analysts. And in the first month, weve already gotten 40% of them of that target. Abbott has increased its dividend payout for 49 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years. And I'll start with Nutrition, where sales increased 9% compared to last year. So, maybe just a follow-up on some of the things you were just talking about, sort of this concept of reinvesting the proceeds of this very strong COVID business. And on the M&A side, I mean, Ive talked about this. Factors, to our Annual Report on Form 10-K for the year ended December 31, 2020. During the quarter, as the Delta variant spread and COVID cases surged, particularly in the US, demand for testing increased significantly, most notably for rapid tests. Thank you. The products got a lot of advantages versus the product thats on the market right now. And like I said, the COVID piece is really just one where were going to have to go quarter-by-quarter and update and roll our forecast every quarter. We've got a market leadership position in rapid testing, especially in OTC. And then, the other topic you talked about or touched on was the cash flow generation as a result of the COVID business. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Financial Juice But alone its not enough. But if you look historically where weve been in the low-7%s in R&D and SG&A between 20% and 30%, thats where were going to want to kind of land. During the quarter, as the Delta variant spread and COVID cases surged, particularly in the US, demand for testing increased significantly, most notably for rapid tests. Just starting with Amulet, to ask Bob's earlier question another way, the surveys seem to be coming back suggesting Amulet can take about a third of the US market and maybe even 20% next year. Today, we reported results of another very strong quarter. Thanks for taking the questions. Im not going to comment on when, all I can tell you is we filed it at the end of Q2. And there could be opportunities there for us to -- first to do better than that. And I'll wrap up with Diabetes Care, where strong growth was led by FreeStyle Libre sales of nearly $1 billion. I think you captured pretty well all the elements there of how we look at COVID. And lastly, I'll cover Medical Devices, where sales grew 13% in the quarter compared to last year and more than 16% compared to pre-pandemic sales in the third quarter of 2019. So, very happy with the initial signs. As a result of our strong performance and outlook, today, we increased our full year adjusted earnings per share guidance range now at $5 to $5.10, which reflects nearly 40% growth compared to last year. We've got about a 90% market share of that segment at least. Weve completed enrollment in that study. Key Emerging Markets include India, Brazil, Russia and China along with several additional emerging countries that represent the most attractive long-term growth opportunities for Abbott's branded generics product portfolio. As Scott mentioned earlier, please note that all references to sales growth rates, unless otherwise noted, are on an organic basis, which is consistent with our previous guidance. Bob? And I think the data is very strong and well just leave it like that. I think the CATALYST trial is going to be comparing it to NOAC. Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds. NeuroSphere, which is this novel remote care platform, weve launched it. Rule Breakers. And I'll wrap up with Diabetes Care, where strong growth was led by FreeStyle Libre sales of nearly $1 billion. So we have been putting more discretionary advertising and direct consumer promotion in that business and you could see the step-up in the growth rate there. So -- and I'll let Bob cover that. And what a I mean by that is, we're launching Portico in the US. Today, we reported results of another very strong quarter. See tables titled"Non-GAAP Reconciliation of Financial Information From Continuing Operations" for an explanation of certain non-GAAP financial information. I've given a range on what I think is going to look like in Q4. And so, were working to mitigate the impacts were seeing such as looking at other manufacturing costs. Understood. After adjusting for this impact, CardioMEMS demonstrated a 28% reduction in heart failure hospitalizations. Robert, I wanted to focus on the device side and the pipeline. Weve already initiated the launch. So there's a perception out there, I think, because COVID testing is maybe not permanent and hard to predict, that it's somehow less important or harder to value than the rest of your businesses. Robert B. Ford -- President and Chief Executive Officer. Sales increased more than 45% overall and 12.5%, excluding COVID testing-related sales. I wanted to ask about just your Neuromod business, SDS as well as other deferrable procedures and can you walk through just sequential trends in the quarter, if you started to see recovery in some of your more deferrable procedures trending ahead of others and also how youre thinking about the ability to recapture deferred procedures, if the majority of recapture procedure recapture kind of occurring 4Q or staffing shortages, do some of this recovering procedure recapture flow into 2022? Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments except as required by law. And that continues to be pretty strong. Your line is open. So I think the combination here of investment in the team, investment in the pipeline, in the clinical data, you're right, our kind of low risk -- intermediate low risk trial kind of reads out a little bit later on but it's there, we're investing in it. I mean, I think, like I said, we're still in our process. I think the data was very compelling. We built scale, we built manufacturing and we know how to operate in this environment, whether its retail pharmacies or direct consumer. We think there is a strategic fit for us, one that is financially justified for us, that we can do better with it, that we can make it better and that there's value for shareholders, we'll do that also. Restructuring and cost reduction initiative expenses include severance, outplacement, and other direct costs associated with specific restructuring plans and cost reduction initiatives. Its size portfolio is an advantage. So, we're in the mode of studying and paying attention. See tablestitled "Non-GAAP Reconciliation of Financial Information From Continuing Operations"for an explanation of certain non-GAAP financial information. ATLANTA - UPS (NYSE:UPS) today announced third-quarter 2021 consolidated revenue of $23.2 billion, a 9.2% increase over the third quarter of 2020. And as we get closer to those launches, which will be coming up fairly soon, we'll be updating the market. Your line is open. So, regarding the Q4 forecast of $1 billion to $1.4 billion here, our capacity is, we can do significantly more than that, Vijay, especially as we've -- Q3, we didn't have the full ramp-up, but now we're finishing this month here, we'll be in full ramp-up mode. The steerable sheath that we've got has resulted in great precision in the placement. "We're particularly pleased with the continued advancements of our new product pipeline, including several recent launches in large, high-growth markets.". Our next question comes from Vijay Kumar from Evercore ISI. We're experiencing some higher shipping costs and, in some cases, higher commodity costs. And I think you guys did win about $600 million of DoD contracts. So, we find a way to kind of deploy that capital. There were pockets here in the US, some pockets in some countries, but generally speaking that base business is doing very well. So. It continues to be on a recovery trajectory here, Robbie, started in Q2. Shares of Starbucks Corporation (NASDAQ: SBUX) were up 8% on Friday, a day after the company delivered strong results for the fourth quarter of 2022. We're making great progress in penetrating the Type 2 population, whether it's non-insulin users or non-intensive insulin users. What we dont see that correlation is on screenings. Thank you for joining us today. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. And yeah, as I said, this is a multi-billion dollar market where we think that we can be a true competitor in also. Right now, I would say, we have a goal of certain amount of contracts by the end of this year. Abbott Diabetes Care. We've already initiated the launch. President and Chief Executive Officer at Abbott Laboratories Thanks, Scott. Act 1.17 Est 1.02 Q2 . Worldwide Diagnostics sales increased 48.2 percent on a reported basis in the third quarter and increased 46.8 percent on an organic basis. Good morning. Thanks for taking the questions. So, our focus right now is, we're going to finish strong 2021, enter into 2022 with a lot of momentum and I think we're well placed strategically here as we go into next year. Abbott's 3Q 2021 Earnings Infographic 1.6 MB. Thanks, Scott. I mean, we've got a lot of great products and a lot of great call points. Your line is open. There was a little bit of softness in Q3, but I like what we're seeing in terms of recovery. So, maybe after such a good quarter led by COVID testing, I feel like you have a unique perspective looking at both sides of the coin, from COVID test, volumes and also device procedure volumes. We'll have a number that we'll feel comfortable with, but those -- I would say, those are the kind of key drivers here. As weve seen since the start of the pandemic, our diversified mix of healthcare businesses continues to prove highly resilient. Abbott forecasts specified items for the full-year 2021 of $1.45 per share primarily related to intangible amortization, restructuring and cost reduction initiatives, including expenses to align its COVID-19 testing-related business with changes during the year in current and projected testing demand, expenses associated with acquisitions and other net expenses. Sure, Larry. Our base business has done very well. I think the factor here that we're looking at is, as I said in the opening comments here in the first question, I continue to see the surveillance and the screening market to continue to increase. And as I talk about going into next year, that will be a portion of the part that we will feel comfortable with adding on. And then on top of that, we're making the investments, like I said, to grow the category with all of our clinical trials, CATALYST is one of them that's important also. Navitor to your question is a great second-generation device. Q2 2021 ABBOTT EARNINGS CONFERENCE CALL Jul 22, 2021 at 8:00 AM CDT Supporting Materials 2Q 2021 Press Release786.2 KB Abbott's 2Q 2021 Earnings Infographic1.8 MB Quick Links REQUEST PRINTED MATERIALS To request information via email, please follow this link But as we go into next year, I think it will have an impact on our vascular business. Like Abbott, Patrick and Paxton are seeking third terms. If you look at -- going into the Type 2 population, there's a lot of new drugs for Type 2 where there are certain warnings regarding DKA and we think that that might also be an opportunity too. Another key thing here is entrance into the rechargeable segment which is about half of the market. . Excluding COVID testing-related sales, organic sales growth was 12.1% versus last year and 11.7% compared to the third quarter of 2019.