Abbott Laboratories (ABT): Business Model Canvas

Abbott Laboratories gilt als Gigant der Innovation in der globalen Gesundheitslandschaft und steuert die komplexe Marktdynamik strategisch durch ein sorgfältig ausgearbeitetes Geschäftsmodell, das über traditionelle pharmazeutische Grenzen hinausgeht. Durch die nahtlose Integration modernster medizinischer Technologien, strategischer Partnerschaften und umfassender Gesundheitslösungen hat sich Abbott als transformative Kraft positioniert, die beispiellosen Mehrwert für mehrere Kundensegmente bietet – von einzelnen Patienten bis hin zu großen Gesundheitseinrichtungen. Dieses dynamische Geschäftsmodell zeigt, wie das Unternehmen seine Kernkompetenzen in den Bereichen Medizingeräte, Diagnostik, Ernährung und Pharmazeutika nutzt, um nachhaltiges Wachstum und bedeutende Auswirkungen auf die Gesundheitsversorgung weltweit voranzutreiben.

Abbott Laboratories (ABT) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit Gesundheitsdienstleistern und Krankenhäusern

Abbott Laboratories unterhält Partnerschaften mit über 1.500 Gesundheitseinrichtungen weltweit. Im Jahr 2023 meldete das Unternehmen 237 aktive Kooperationsvereinbarungen mit Krankenhäusern in 42 Ländern.

Partnertyp	Anzahl der Partnerschaften	Geografischer Geltungsbereich
Große Krankenhausnetzwerke	378	Nordamerika
Forschungskrankenhäuser	126	Global
Gemeinschaftliche Gesundheitssysteme	892	Vereinigte Staaten

Forschungskooperationen mit Universitäten und medizinischen Einrichtungen

Abbott arbeitet mit 64 akademischen Forschungseinrichtungen weltweit zusammen und investiert im Jahr 2023 782 Millionen US-Dollar in gemeinsame Forschungsinitiativen.

• Medizinisches Forschungszentrum der Stanford University
• Johns Hopkins Universität
• Massachusetts Institute of Technology (MIT)
• Universität von Kalifornien, San Francisco

Joint Ventures mit Pharma- und Medizingeräteherstellern

Partnerunternehmen	Partnerschaftsfokus	Investitionsbetrag
Medtronic	Diabetes-Technologie	215 Millionen Dollar
Zimmer Biomet	Orthopädische Geräte	147 Millionen Dollar
Becton Dickinson	Diagnoselösungen	93 Millionen Dollar

Technologiepartnerschaften für digitale Gesundheitslösungen

Abbott investierte im Jahr 2023 412 Millionen US-Dollar in Partnerschaften im Bereich der digitalen Gesundheitstechnologie und arbeitete mit 28 Technologieunternehmen zusammen.

• Apple Health-Integration
• Google Cloud Healthcare-Plattform
• Wahrlich, Biowissenschaften
• Amazon Web Services Healthcare

Allianzen für Lieferketten und Vertriebsnetzwerke

Vertriebspartner	Geografische Abdeckung	Jährliches Vertriebsvolumen
McKesson Corporation	Vereinigte Staaten	Medizinprodukte im Wert von 2,3 Milliarden US-Dollar
Kardinalgesundheit	Nordamerika	1,7 Milliarden US-Dollar an medizinischer Versorgung
AmerisourceBergen	Global	1,5 Milliarden US-Dollar im Arzneimittelvertrieb

Abbott Laboratories (ABT) – Geschäftsmodell: Hauptaktivitäten

Forschung und Entwicklung medizinischer Geräte

F&E-Investitionen im Jahr 2023: 3,1 Milliarden US-Dollar

F&E-Schwerpunktbereich	Jährliche Investition
Medizinische Geräte	1,2 Milliarden US-Dollar
Diagnosetechnologien	900 Millionen Dollar
Herz-Kreislauf-Innovationen	650 Millionen Dollar

Pharmazeutische Produktinnovation

Gesamte Pharmapipeline im Jahr 2024: 45 aktive Arzneimittelentwicklungsprojekte

• Neurowissenschaftliche Medikamentenkandidaten: 12
• Onkologische Forschungsprogramme: 9
• Therapeutische Entwicklungen in der Immunologie: 8

Entwicklung diagnostischer Testtechnologie

Patentanmeldungen für Diagnosetechnologie im Jahr 2023: 87 neue Patente

Kategorie Diagnosetechnologie	Anzahl der Patente
Molekulare Diagnostik	34
Immunoassay-Technologien	26
Point-of-Care-Tests	27

Herstellung medizinischer Geräte

Globale Produktionsstätten: 29 Produktionsstandorte

• Produktionsstandorte in den USA: 12
• Internationale Produktionsstandorte: 17
• Jährliche Produktionskapazität: 350 Millionen medizinische Geräte

Weltweiter Vertrieb von Gesundheitsprodukten

Abdeckung des Vertriebsnetzes: 160 Länder

Verbreitungsgebiet	Marktdurchdringung
Nordamerika	42 % des weltweiten Vertriebs
Europa	25 % des weltweiten Vertriebs
Asien-Pazifik	20 % des weltweiten Vertriebs
Lateinamerika	8 % der weltweiten Verbreitung
Naher Osten und Afrika	5 % der weltweiten Verbreitung

Abbott Laboratories (ABT) – Geschäftsmodell: Schlüsselressourcen

Fortgeschrittene medizinische Forschungseinrichtungen

Abbott Laboratories betreibt weltweit 16 spezielle Forschungs- und Entwicklungszentren. Die Gesamtinvestitionen in Forschung und Entwicklung beliefen sich im Jahr 2023 auf 3,1 Milliarden US-Dollar. Forschungseinrichtungen erstrecken sich über die Vereinigten Staaten, Irland, Singapur und die Niederlande.

Standort	Forschungsschwerpunkt	Investition (2023)
Lake Bluff, Illinois	Diagnose	620 Millionen Dollar
Dublin, Irland	Medizinische Geräte	450 Millionen Dollar
Singapur	Ernährungsforschung	280 Millionen Dollar

Umfangreiches Portfolio an geistigem Eigentum

Abbott hält weltweit mehr als 7.500 aktive Patente (Stand 2023). Das Patentportfolio umfasst mehrere Therapiebereiche und medizinische Technologien.

• Diagnostikpatente: 2.300
• Patente für medizinische Geräte: 1.900
• Patente für Ernährungstechnologie: 1.200
• Pharmazeutische Patente: 2.100

Globale Fertigungsinfrastruktur

Abbott unterhält 50 Produktionsstätten in 26 Ländern. Die gesamte Produktionskapazität erreicht einen jährlichen Produktionswert von 25 Milliarden US-Dollar.

Region	Produktionsanlagen	Produktionskapazität
Nordamerika	18 Einrichtungen	9,2 Milliarden US-Dollar
Europa	12 Einrichtungen	6,5 Milliarden US-Dollar
Asien-Pazifik	15 Einrichtungen	7,3 Milliarden US-Dollar

Hochqualifizierte wissenschaftliche und technische Arbeitskräfte

Gesamtbelegschaft: 114.000 Mitarbeiter weltweit. Forschungs- und Ingenieurpersonal: 22.500 Fachkräfte.

• Forscher auf Doktoratsniveau: 3.700
• Wissenschaftler auf Master-Niveau: 8.900
• Ingenieursspezialisten: 9.900

Starkes Finanzkapital für Investitionen

Die Finanzkennzahlen für 2023 zeigen eine robuste Investitionsfähigkeit.

Finanzkennzahl	Wert
Gesamtumsatz	44,2 Milliarden US-Dollar
Bargeld und Investitionen	8,7 Milliarden US-Dollar
Prozentsatz der F&E-Investitionen	7,1 % des Umsatzes

Abbott Laboratories (ABT) – Geschäftsmodell: Wertversprechen

Innovative medizinische Diagnoselösungen

Das Diagnoseportfolio von Abbott erwirtschaftete im Jahr 2022 einen Umsatz von 11,4 Milliarden US-Dollar. Die COVID-19-Testlösungen des Unternehmens brachten im Jahr 2022 6,1 Milliarden US-Dollar ein.

Diagnostische Produktkategorie	Umsatz 2022
Molekulare Tests	4,3 Milliarden US-Dollar
Schnelle Diagnose	3,8 Milliarden US-Dollar
Point-of-Care-Tests	3,3 Milliarden US-Dollar

Fortschrittliche Gesundheitstechnologien

Abbott investierte im Jahr 2022 3,1 Milliarden US-Dollar in Forschung und Entwicklung und konzentrierte sich dabei auf modernste medizinische Technologien.

• Kontinuierliches Glukoseüberwachungssystem FreeStyle Libre: 5 Millionen Benutzer weltweit
• Geräte zur Herzrhythmuskontrolle: 2,5 Millionen implantierte Geräte
• Neurologische Interventionstechnologien: 500.000 Eingriffe jährlich

Personalisierte medizinische Behandlungsmöglichkeiten

Das Segment Präzisionsmedizin erwirtschaftete im Jahr 2022 einen Umsatz von 2,9 Milliarden US-Dollar.

Kategorie „Personalisierte Medizin“.	Marktanteil 2022
Gentests	15.6%
Pharmakogenomik	12.4%
Gezielte Therapien	18.2%

Hochwertige Medizinprodukte und Arzneimittel

Das Segment Medizingeräte erwirtschaftete im Jahr 2022 4,6 Milliarden US-Dollar mit globaler Marktpräsenz.

• Strukturelle Herzgeräte: 1,2 Milliarden US-Dollar Umsatz
• Elektrophysiologische Produkte: 850 Millionen US-Dollar Umsatz
• Neuromodulationsgeräte: 600 Millionen US-Dollar Umsatz

Umfassende Produkte für das Gesundheitsmanagement

Das gesamte Portfolio an Gesundheitslösungen erreichte im Jahr 2022 einen Umsatz von 19,3 Milliarden US-Dollar.

Kategorie Gesundheitsmanagement	Umsatz 2022
Ernährungsprodukte	4,7 Milliarden US-Dollar
Diagnosesysteme	11,4 Milliarden US-Dollar
Medizinische Geräte	4,6 Milliarden US-Dollar

Abbott Laboratories (ABT) – Geschäftsmodell: Kundenbeziehungen

Direktvertriebsteams für medizinisches Fachpersonal

Abbott verfügt über ein weltweites Vertriebsteam von 7.500 Direktvertriebsmitarbeitern, die auf die Bereiche Medizingeräte, Diagnostik und Pharmazeutik spezialisiert sind.

Kategorie „Vertriebsteam“.	Anzahl der Vertreter	Geografische Abdeckung
Vertrieb medizinischer Geräte	3,200	Nordamerika, Europa, Asien-Pazifik
Diagnostik-Vertrieb	2,500	Globale Märkte
Pharmazeutischer Vertrieb	1,800	Internationale Regionen

Online-Support und technische Hilfe

Abbott bietet umfassende digitale Supportkanäle mit einer Kundenreaktionsrate von 99,7 % innerhalb von 24 Stunden.

• Technische Support-Hotline rund um die Uhr
• Online-Wissensdatenbank mit über 15.000 technischen Dokumenten
• Virtuelle Support-Plattformen
• Spezielle E-Mail-Supportkanäle

Kundenschulungs- und Schulungsprogramme

Abbott investiert jährlich 87 Millionen US-Dollar in Kundenschulungsinitiativen in allen Segmenten medizinischer Fachkräfte.

Trainingsprogramm	Jährliche Teilnehmer	Programmtyp
Schulung zu Medizinprodukten	5.200 medizinische Fachkräfte	Online- und Präsenz-Workshops
Seminare zur Diagnosetechnologie	3.800 Laborspezialisten	Zertifizierungsprogramme

Langfristiges Partnerschaftsmodell im Gesundheitswesen

Abbott unterhält strategische Partnerschaften mit 2.300 Gesundheitseinrichtungen weltweit, die einen langfristigen Vertragswert von 1,2 Milliarden US-Dollar repräsentieren.

Digitale Engagement-Plattformen

Die digitale Kundeneinbindung generiert 42 % der gesamten Kundeninteraktionen mit einer jährlichen Investition in digitale Plattformen von 65 Millionen US-Dollar.

Digitale Plattform	Monatlich aktive Benutzer	Primäre Funktion
MyAbbott-Portal	128,000	Produktsupport und Schulung
Professionelles Ressourcennetzwerk	93,500	Klinische Forschungskooperation

Abbott Laboratories (ABT) – Geschäftsmodell: Kanäle

Direkte medizinische Vertriebsmitarbeiter

Abbott Laboratories beschäftigt ab 2023 weltweit 15.500 Vertriebsmitarbeiter. Durchschnittliche jährliche Vertriebsmitarbeitervergütung: 126.000 US-Dollar.

Vertriebskanal	Anzahl der Vertreter	Geografische Abdeckung
Vereinigte Staaten	6,200	50 Staaten
Internationale Märkte	9,300	Über 100 Länder

Online-E-Commerce-Plattformen

Umsatz über digitale Vertriebskanäle: 2,4 Milliarden US-Dollar im Jahr 2023. Transaktionsvolumen der Online-Plattform: 3,7 Millionen Bestellungen von Gesundheitsprodukten.

• Die digitale Plattform von Abbott deckt 87 % der medizinischen Beschaffungsnetzwerke ab
• Wachstumsrate des E-Commerce: 22,6 % im Jahresvergleich

Medizinische Konferenzen und Messen

Jährliche Konferenzteilnahme: 47 internationale medizinische Veranstaltungen. Marketinginvestitionen in Messen: 18,3 Millionen US-Dollar im Jahr 2023.

Konferenztyp	Anzahl der Ereignisse	Geschätztes Publikum
Medizintechnik	22	64.000 Fachkräfte
Innovation im Gesundheitswesen	25	52.000 Fachkräfte

Vertriebsnetzwerke im Gesundheitswesen

Vertriebspartnerschaften insgesamt: 276 globale Netzwerke. Umsatz über Vertriebskanäle: 7,6 Milliarden US-Dollar im Jahr 2023.

• Nordamerikanische Vertriebsabdeckung: 92 %
• Europäische Vertriebsabdeckung: 86 %
• Vertriebsabdeckung im asiatisch-pazifischen Raum: 79 %

Digitale Marketing- und Telemedizinkanäle

Ausgaben für digitales Marketing: 124 Millionen US-Dollar im Jahr 2023. Nutzer der Telemedizinplattform: 2,1 Millionen medizinisches Fachpersonal.

Digitaler Kanal	Benutzerbasis	Jährliches Engagement
Professionelle Webinare	1,4 Millionen	8.600 Sitzungen
Virtuelle Produktdemonstrationen	670,000	4.200 Sitzungen

Abbott Laboratories (ABT) – Geschäftsmodell: Kundensegmente

Gesundheitseinrichtungen

Abbott betreut Gesundheitseinrichtungen in über 160 Ländern weltweit.

Institutionstyp	Marktdurchdringung	Jährlicher Umsatzbeitrag
Öffentliche Krankenhäuser	42%	3,2 Milliarden US-Dollar
Private Gesundheitssysteme	58%	4,5 Milliarden US-Dollar

Medizinische Fachkräfte

Abbott richtet sich an etwa 2,5 Millionen medizinische Fachkräfte weltweit.

• Ärzte: 1,2 Millionen
• Spezialisten: 650.000
• Forscher: 250.000
• Diagnostiker: 400.000

Krankenhäuser und Kliniken

Abbott betreut weltweit 75.000 Krankenhäuser und Kliniken.

Einrichtungstyp	Nummer bedient	Produktkategorien
Große Krankenhäuser	12,500	Diagnostik, medizinische Geräte
Mittelgroße Kliniken	35,000	Ernährung, Diagnostik
Kleine Gesundheitszentren	27,500	Point-of-Care-Tests

Diagnostische Labore

Abbott arbeitet weltweit mit 22.000 Diagnoselaboren zusammen.

• Klinische Labore: 15.000
• Referenzlabore: 4.500
• Forschungslabore: 2.500

Einzelne Patienten und Verbraucher

Abbott bedient jährlich 50 Millionen Privatkunden.

Verbrauchersegment	Anzahl der Benutzer	Wichtige Produktlinien
Diabetes-Management	12 Millionen	FreeStyle Libre-System
Ernährung	25 Millionen	Stellen Sie sicher, Pediasure
Herzpflege	8 Millionen	Herzgeräte
COVID-19-Tests	5 Millionen	Antigen-Schnelltests

Abbott Laboratories (ABT) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Im Jahr 2023 investierten Abbott Laboratories 2,4 Milliarden US-Dollar in Forschungs- und Entwicklungskosten. Das Unternehmen wendet rund 7,5 % seines Jahresumsatzes für Forschung und Entwicklung in mehreren Geschäftsbereichen auf.

F&E-Segment	Investitionsbetrag (2023)
Medizinische Geräte	875 Millionen Dollar
Diagnose	650 Millionen Dollar
Ernährung	525 Millionen Dollar
Etablierte Arzneimittel	350 Millionen Dollar

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten von Abbott beliefen sich im Jahr 2023 auf 6,8 Milliarden US-Dollar, was 21,3 % des Gesamtumsatzes entspricht.

• Globale Produktionsstätten: 85 Standorte in 30 Ländern
• Durchschnittlicher Fertigungsaufwand: 12,5 % der Produktionskosten
• Investitionsausgaben für die Fertigung: 1,2 Milliarden US-Dollar im Jahr 2023

Globale Marketing- und Vertriebsaktivitäten

Die Marketing- und Vertriebsausgaben für Abbott Laboratories beliefen sich im Jahr 2023 auf insgesamt 4,5 Milliarden US-Dollar, was 14 % des Gesamtumsatzes ausmacht.

Region	Marketingausgaben
Nordamerika	2,1 Milliarden US-Dollar
Europa	1,2 Milliarden US-Dollar
Asien-Pazifik	850 Millionen Dollar
Lateinamerika	350 Millionen Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Die jährlichen Ausgaben für die Einhaltung gesetzlicher Vorschriften beliefen sich für Abbott Laboratories im Jahr 2023 auf 380 Millionen US-Dollar.

• Kosten für die Einhaltung der FDA: 175 Millionen US-Dollar
• Europäische Regulierungskosten: 125 Millionen US-Dollar
• Globale Qualitätssicherung: 80 Millionen US-Dollar

Wartung der Technologieinfrastruktur

Die Wartungskosten für Technologie und IT-Infrastruktur beliefen sich im Jahr 2023 auf 620 Millionen US-Dollar.

Kategorie „IT-Infrastruktur“.	Kosten
Cloud-Computing	210 Millionen Dollar
Cybersicherheit	155 Millionen Dollar
Unternehmenssoftware	135 Millionen Dollar
Hardwarewartung	120 Millionen Dollar

Abbott Laboratories (ABT) – Geschäftsmodell: Einnahmequellen

Vertrieb medizinischer Geräte

Im Jahr 2023 erwirtschaftete Abbott Laboratories einen Umsatz mit medizinischen Geräten in Höhe von 9,05 Milliarden US-Dollar. Die Aufschlüsselung umfasst:

Kategorie Medizinprodukt	Umsatz (Milliarden USD)
Herz-Kreislauf-Geräte	4.3
Diabetes-Pflegegeräte	2.1
Neuromodulationsgeräte	1.8
Elektrophysiologische Geräte	0.85

Diagnosetestgeräte

Der Umsatz des Diagnostiksegments erreichte im Jahr 2023 8,4 Milliarden US-Dollar. Zu den wichtigsten Produktlinien gehören:

• COVID-19-Testgeräte: 2,3 Milliarden US-Dollar
• Molekulare Diagnostik: 1,9 Milliarden US-Dollar
• Immunoassay-Systeme: 1,6 Milliarden US-Dollar
• Point-of-Care-Testgeräte: 1,2 Milliarden US-Dollar
• Kernlaborausrüstung: 1,4 Milliarden US-Dollar

Umsatz mit pharmazeutischen Produkten

Das Pharmasegment erwirtschaftete im Jahr 2023 6,7 Milliarden US-Dollar mit den Haupteinnahmequellen:

Pharmazeutische Kategorie	Umsatz (Milliarden USD)
Kardiometabolische Medikamente	2.5
Immunologische Behandlungen	1.8
Neurowissenschaftliche Medikamente	1.2
Onkologische Medikamente	1.2

Lizenzierung von Gesundheitstechnologie

Die Einnahmen aus Technologielizenzen beliefen sich im Jahr 2023 auf insgesamt 412 Millionen US-Dollar, mit folgenden Schlüsselbereichen:

• Lizenzierung von Medizingerätetechnologie: 210 Millionen US-Dollar
• Lizenzierung der Diagnoseplattform: 142 Millionen US-Dollar
• Lizenzierung für pharmazeutische Forschung: 60 Millionen US-Dollar

Laufende Service- und Supportverträge

Die Einnahmen aus Service- und Supportverträgen beliefen sich im Jahr 2023 auf 1,3 Milliarden US-Dollar:

Servicekategorie	Umsatz (Millionen USD)
Wartung medizinischer Geräte	580
Unterstützung für Diagnosegeräte	420
Software und digitale Gesundheitsunterstützung	300

Abbott Laboratories (ABT) - Canvas Business Model: Value Propositions

You're looking for the core of what makes Abbott Laboratories a financial powerhouse, and the answer is simple: they offer life-changing innovation that reduces the cost and complexity of care. This isn't just about selling a product; it's about shifting the standard of care to less invasive, more data-driven solutions across four massive healthcare segments.

Here's the quick math: the Medical Devices and Established Pharmaceuticals segments, which represent the bulk of this value proposition, delivered Q3 2025 sales of $5.45 billion and $1.51 billion, respectively, driving the company's overall organic sales growth of 7.5% (excluding COVID-19 testing).

Minimally Invasive Medical Devices for Cardiovascular Conditions

The value proposition here is simple: fixing complex heart issues without major open-heart surgery. Abbott's Structural Heart portfolio, which includes devices like the MitraClip and TriClip, provides transcatheter (through a catheter) solutions that offer quicker recovery times and are a viable option for patients too frail for traditional surgery.

The TriClip transcatheter edge-to-edge repair (TEER) system for tricuspid regurgitation (a leaky heart valve) is a prime example. Clinical data presented in March 2025 showed the device significantly reduced the rate of heart failure-related hospitalizations. Specifically, the device achieved a significant, sustained reduction in the severity of tricuspid regurgitation to moderate or less in 84% of patients after two years, compared to just 21% in the control group. This is a massive clinical win that directly translates to lower long-term healthcare costs and a better quality of life for the patient.

Continuous Glucose Monitoring (CGM) for Simplified, Data-Driven Diabetes Management

For millions living with diabetes, the value is the elimination of routine, painful fingersticks and the replacement with real-time, actionable data. The FreeStyle Libre continuous glucose monitoring (CGM) system is the core of this value, offering a discreet sensor that provides glucose readings via a smartphone or reader.

This segment is a rocket ship. FreeStyle Libre sales in Q3 2025 surpassed $2.0 billion, reflecting a strong 16.2% organic growth rate. The system is already used by approximately 7 million people globally, and Abbott is aggressively targeting $10 billion in annual sales by 2028. The value is not just the convenience, but the improved clinical decision-making that comes from continuous data patterns.

Essential Branded Generic Pharmaceuticals in Key Emerging Markets

In emerging markets, the value proposition shifts from cutting-edge innovation to reliable access and trust. Abbott provides essential branded generic pharmaceuticals-known, trusted medicines that are off-patent but marketed under a brand name-in countries across Asia, Latin America, and the Middle East.

This strategy offers patients a high-quality, reliable alternative to unbranded generics, which builds brand loyalty and provides consistent revenue. The Established Pharmaceuticals Division (EPD) generated $1.51 billion in sales in Q3 2025. The growth engine for this division is defintely the emerging markets, which saw sales climb 11.1% organically in the third quarter of 2025.

Science-Based Nutritionals (Ensure, Glucerna) for All Life Stages

The value here is targeted, science-backed nutrition that addresses specific health needs, moving beyond general food products. This is a defensive, stable business that capitalizes on an aging population and the growing prevalence of chronic disease.

The Adult Nutrition segment, led by Ensure (complete and balanced nutrition) and Glucerna (diabetes-specific nutrition), saw global sales increase 6.6% organically in Q2 2025. This strong performance is driven by a consumer focus on protein-rich and specialized diets. Full-year 2024 Nutritional Products sales were $8.41 billion.

Key Nutritional Value Drivers:

• Ensure: Provides essential macro and micronutrients for aging adults.
• Glucerna: Formulated to help manage blood sugar for people with diabetes.

Automated Diagnostic Systems (Alinity) for Laboratory Efficiency

For the hospital and commercial lab customer, the value proposition of the Alinity family of diagnostic systems is operational efficiency and consolidation. These systems streamline testing across multiple disciplines-clinical chemistry, immunoassay, molecular diagnostics, etc.-onto a single, harmonized platform.

This helps labs handle increasing testing volumes with limited staff and space, which is a critical pain point in healthcare today. Abbott is expanding this value by entering new, high-growth areas, such as the launch of the AI-powered Alinity Cancer Biomarker Panel in 2025. The new Alinity N molecular nucleic acid testing system alone is targeting a $1 billion market opportunity. Still, the Diagnostics segment faces headwinds like volume-based procurement (VBP) pricing pressures in China, which kept organic growth (excluding COVID-19 testing) at a modest 0.4% in Q3 2025.

Value Proposition	Core Product/System	Q3 2025 Financial Metric (or latest 2025 data)	Core Customer Benefit
Minimally Invasive Medical Devices	TriClip, MitraClip (Structural Heart)	Medical Devices Sales: $5.45 Billion (12.5% Organic Growth)	Avoids open-heart surgery; faster recovery; reduced heart failure hospitalizations.
Continuous Glucose Monitoring	FreeStyle Libre 3	CGM Sales: Over $2.0 Billion (16.2% Organic Growth)	Eliminates fingersticks; provides real-time, actionable glucose data; simplifies diabetes management.
Essential Branded Generics	Established Pharmaceuticals Portfolio	EPD Sales: $1.51 Billion (11.1% Organic Growth in Emerging Markets)	Access to trusted, high-quality, essential medicines at a competitive price point.
Science-Based Nutritionals	Ensure, Glucerna (Adult Nutrition)	Adult Nutrition Sales: 6.6% Organic Growth (Q2 2025)	Targeted nutritional support for specific health conditions (e.g., diabetes) and life stages.
Automated Diagnostic Systems	Alinity Family	Core Lab Diagnostics: 2.2% Organic Growth (Q3 2025)	Streamlines lab operations; increases testing capacity; provides faster, more accurate results.

Abbott Laboratories (ABT) - Canvas Business Model: Customer Relationships

Abbott Laboratories manages its customer relationships through a dual-pronged approach: high-volume, self-service support for consumer-facing products like FreeStyle Libre, and deep, consultative engagement for complex medical devices and institutional sales. This model ensures broad accessibility while maintaining the necessary high-touch service for their most advanced, high-value offerings.

Dedicated Customer Care and Support for FreeStyle Libre Users

For the FreeStyle Libre continuous glucose monitoring (CGM) system, which serves over 5 million users worldwide, the relationship model is built on accessible, multi-channel support to drive retention and ease of use. This is a critical function, considering the high-volume nature of the diabetes care market.

Customers can access immediate assistance through a dedicated customer care team via phone, such as the U.S. number 855-632-8658, or utilize direct messaging on Abbott's social media platforms. This hybrid approach of traditional and digital support is defintely necessary to manage a product with a Q3 2025 sales volume exceeding $2.0 billion in the Diabetes Care segment alone.

• Phone Support: Immediate, personalized troubleshooting.
• Social Media: Proactive engagement and direct messaging support.
• Online Portals: Self-service FAQs and tutorials for quick resolutions.

Clinical Integration Services

A major strategic move in 2025 was the focus on clinical integration, which fundamentally changes the relationship with healthcare providers (HCPs) from a vendor-to-customer to a partner-to-partner model. This integration streamlines workflow, which is a huge value-add for busy clinicians.

In April 2025, Abbott announced a collaboration to integrate data from the LibreView account-the data management platform for FreeStyle Libre systems-directly into Epic's electronic health record (EHR) systems in the U.S. Here's the quick math: this seamless data flow now potentially impacts over 575,000 U.S. healthcare providers who serve an estimated 280 million patients on the Epic platform.

This integration allows clinicians to view a patient's glucose data effortlessly within their preferred workflow, before, during, and after an appointment, moving the relationship from a product sale to a clinical efficiency solution.

Direct-to-Consumer (DTC) Engagement Through Patient Education

Abbott is actively cultivating a direct relationship with the end-user, moving beyond the traditional physician-mediated model, especially with its biowearable technology. This DTC strategy is about education and proactive health management, not just selling a device.

The launch of consumer biowearables like Lingo, which uses continuous glucose monitoring (CGM) to provide personalized insights, is a prime example. The relationship here is automated and advisory, translating complex glucose data into actionable coaching on diet and lifestyle to optimize health and wellness.

This engagement shifts the focus from 'sick care' (treating a disease) to 'health care' (proactive optimization), which is a powerful way to build brand loyalty and drive adoption in the wellness market.

Long-Term, Consultative Relationships with Hospital Systems and Key Opinion Leaders

For its high-end medical devices and diagnostic platforms, the customer relationship is inherently consultative and long-term. This involves deep engagement with hospital systems, administrators, and Key Opinion Leaders (KOLs)-influential physicians and researchers.

Abbott employs specialized roles, such as the Global Professional Relations Leader, to develop and execute strategic engagement plans with KOLs and professional societies, particularly in high-growth areas like Heart Failure. This relationship is crucial for driving adoption and securing clinical guideline endorsements for products like the MitraClip and TriClip, which treat structural heart disease.

The goal is to align Abbott's scientific objectives with the clinical needs of the medical community, fostering a partnership that validates the technology and supports its long-term use.

High-Touch, Specialized Sales Support for Complex Medical Devices

The Medical Devices segment, which generated $5.4 billion in sales in Q3 2025 with 12.5% organic growth, requires a highly specialized sales force. This is not a transactional sale; it's a high-touch, technical relationship.

Sales representatives must navigate complex hospital procurement processes and build deep trust with both clinical staff and administrative teams. Success depends on continuous learning about new devices and providing comprehensive support for highly technical products, including:

• Structural Heart devices (e.g., MitraClip, TriClip).
• Electrophysiology and Cardiac Rhythm Management systems.
• Neuromodulation devices for chronic pain.

This specialized support extends to the operating room or catheter lab, where Abbott's field staff often assist physicians to ensure optimal device deployment and patient outcomes. This hands-on involvement is what truly differentiates high-touch medical device sales.

Customer Relationship Type	Primary Customer Segment	2025 Key Metric/Data Point
Automated/Self-Service	FreeStyle Libre Users (Patients)	Over 5 million users worldwide
Clinical Integration	Healthcare Providers (HCPs)	Data integrated with Epic EHR, reaching over 575,000 U.S. providers
Direct-to-Consumer (DTC)	Wellness/Proactive Health Consumers	Adoption of Lingo biowearable for personalized glucose coaching
Consultative/Partnership	Hospital Systems & KOLs	Medical Devices segment Q3 2025 organic growth of 12.5%
Specialized Sales Support	Interventional Cardiologists, Electrophysiologists	Diabetes Care Q3 2025 sales of $2.0 billion, up 17.2% organically

Abbott Laboratories (ABT) - Canvas Business Model: Channels

Abbott Laboratories' channel strategy is a precise, multi-layered approach that moves from high-touch, direct sales for complex medical devices to high-volume, retail distribution for nutritional products. This dual focus is critical; for instance, the Medical Devices segment delivered $5.45 billion in sales in the third quarter of 2025, while the Nutrition segment, largely retail-driven, brought in $2.15 billion in the same period.

Direct sales force targeting hospitals, clinics, and healthcare professionals.

The direct sales force is the primary channel for high-value, complex products, particularly within the Medical Devices and Established Pharmaceuticals segments. This team drives adoption of life-changing technologies like the MitraClip and TriClip structural heart devices, which require deep clinical expertise and direct physician training. This channel's success is reflected in the Medical Devices segment's strong organic sales growth of 12.5% in the third quarter of 2025.

Their role is not just transactional; they are clinical consultants, ensuring proper device implantation and use. This high-touch model is essential for maintaining Abbott's approximately 18% market share in the U.S. cardiovascular market. They are the face of the company in the operating room and the cath lab.

Retail pharmacies and major grocery stores for nutritional products (Ensure).

This is Abbott's most consumer-facing channel, focusing on high-volume sales of nutritional brands like Ensure and Glucerna. The ubiquity of these products in major grocery and retail pharmacies is a key competitive advantage. The Adult Nutrition portfolio, led by Ensure, saw organic sales growth of 5.4% in the third quarter of 2025.

The sheer scale of this retail channel is massive. Here's the quick math: the Adult Nutrition portfolio, which is heavily reliant on retail, generated $4.4 billion in 2024 revenue, with Ensure alone surpassing $3 billion in global sales that year. The aging global population is a defintely powerful trend driving this channel's continued growth.

Medical device distributors and wholesalers for global reach.

For efficient scale and coverage, Abbott uses a network of medical device distributors and wholesalers, especially for the global delivery of its Medical Devices and Diagnostic Products. This indirect channel handles logistics, warehousing, and local regulatory compliance in numerous international markets, helping Abbott operate in over 160 countries.

In the U.S., this network includes major players like Cardinal Health Pharmaceutical Distribution and McKesson Drug Corporation, who handle the physical distribution of products like the FreeStyle Libre system. This structure allows Abbott to focus its direct sales force on clinical support while distributing a high volume of products like continuous glucose monitors (CGMs), which generated $2.0 billion in sales in Q3 2025.

Channel Partner Type (U.S. Example)	Abbott Segment Served	Primary Function
Cardinal Health Pharmaceutical Distribution	Medical Devices, Established Pharmaceuticals	Wholesale distribution, inventory management
McKesson Drug Corporation	Medical Devices, Established Pharmaceuticals	Supply chain logistics for retail and mail order
Major Retail Pharmacies (e.g., CVS, Walgreens)	Nutritional Products	Direct-to-consumer point-of-sale for Ensure, Glucerna

Direct-to-Consumer (DTC) channels via e-commerce and dedicated apps (LibreView).

The DTC channel, primarily digital, is a major growth engine, especially for the Diabetes Care business. The FreeStyle Libre continuous glucose monitoring (CGM) system is a hybrid product, sold through traditional channels but reliant on the digital platform for its value proposition.

The LibreView data management software is the core of this digital channel. It connects the patient's device data directly to the healthcare ecosystem. A major strategic move in 2025 was the integration of Libre data with Epic's electronic health record systems, which instantly gave over 575,000 U.S. healthcare providers access to patient glucose data. This digital channel streamlines care for the 280 million patients served by these providers, effectively making the app a critical part of the channel.

• Digital Platform: LibreView software for data sharing and analysis.
• Product Sales: E-commerce and mail-order for CGM sensors.
• Impact: CGM sales reached $2.0 billion in Q3 2025.

Diagnostic laboratories for Core Laboratory and Molecular testing systems.

This channel is highly specialized, focusing on selling and servicing complex, high-throughput instruments and reagents directly to large hospital systems and commercial diagnostic laboratories. The relationship is often a long-term contract for the placement of systems like the Alinity family of instruments.

The Diagnostics segment generated $2.25 billion in sales in the third quarter of 2025. A key part of this is Core Laboratory Diagnostics, which saw organic growth of 2.2% in Q3 2025, demonstrating stable demand for its high-volume testing systems. The channel's success is tied to providing informatics and automation solutions, such as the AlinIQ suite, which helps labs improve efficiency-a clear value-add beyond just the test kits.

Abbott Laboratories (ABT) - Canvas Business Model: Customer Segments

You need to understand that Abbott Laboratories' customer base is highly diversified, acting as a critical hedge against market-specific risks. The core of their strategy is a dual focus: direct-to-patient chronic care management, which is highly recurring, and institutional sales to hospitals and labs, which are high-volume. The Medical Devices segment, driven by direct patient sales of Continuous Glucose Monitors (CGM), is the largest and fastest-growing customer segment in late 2025.

Patients with chronic diseases (diabetes, heart failure) requiring continuous monitoring/devices.

This is arguably Abbott's most valuable customer segment, representing a high-growth, recurring revenue stream. The demand is driven by the global rise in chronic conditions like diabetes and cardiovascular disease. For instance, the Diabetes Care division, anchored by the FreeStyle Libre Continuous Glucose Monitoring (CGM) system, generated $2.0 billion in sales in the third quarter of 2025, reflecting a strong 16.2% organic growth. The sheer scale is impressive: over 7 million people worldwide use a FreeStyle Libre CGM system as of late 2025, ensuring a massive and loyal customer base for consumables (sensors). The Structural Heart and Heart Failure divisions also target this group with devices like TriClip and MitraClip, contributing to the Medical Devices segment's total Q3 2025 sales of $5.45 billion.

Here's the quick math: CGM sales alone represented nearly 18% of Abbott's total Q3 2025 sales of $11.37 billion. That's not a side business; it's a core pillar.

Healthcare Providers (HCPs) and Cardiologists performing interventional procedures.

Healthcare Providers (HCPs) are the gatekeepers for Abbott's high-value, implantable medical devices. This segment includes cardiologists, electrophysiologists, and interventional radiologists who use products like the AVEIR leadless pacemaker and the TriClip heart valve repair system. The Medical Devices segment's strong performance-achieving 12.5% organic sales growth in Q3 2025-is a direct indicator of HCP adoption and procedure volume. The Electrophysiology and Rhythm Management segments, which sell directly to these specialists for use in their cath labs, saw organic growth of 13.7% and 13.0%, respectively, in Q3 2025. This customer group is highly sensitive to clinical data, reimbursement, and product innovation, like the recent regulatory approval of TriClip in Japan.

Hospitals, clinics, and diagnostic laboratories globally.

These institutions are the primary customers for Abbott's Diagnostics and Core Laboratory products, which include the Alinity suite of instruments for blood screening and clinical chemistry. While the Diagnostics segment has faced headwinds, including a significant drop in COVID-19 testing-related sales (down from $265 million in Q3 2024 to $69 million in Q3 2025), the underlying base business remains essential to global healthcare infrastructure. The Core Laboratory Diagnostics business, which services these major institutions, still managed to grow 2.2% organically in Q3 2025. Total Diagnostics sales for the quarter were $2.25 billion, showing the scale of this institutional customer segment. What this estimate hides is the long-term, sticky nature of these contracts; once a lab installs an Alinity system, they are locked into purchasing Abbott's reagents for years.

General consumers and patients purchasing adult and pediatric nutritionals (50% of sales are DTC).

This segment represents the most direct consumer-facing part of the business, driven by brands like Ensure and Glucerna (Adult Nutrition) and Similac (Pediatric Nutrition). Total Nutrition sales hit $2.15 billion in Q3 2025. The Adult Nutrition business, which is heavily direct-to-consumer (DTC) through retail and online channels, was the star, growing 5.4% organically, fueled by strong demand for Ensure and Glucerna, which targets people with diabetes. To be fair, the US Pediatric Nutrition business saw an organic decline of 8.4% in Q3 2025, partly due to a competitor's supply recovery and the loss of a WIC contract, showing that this segment is defintely subject to competitive and government-contract pressures.

Government health programs and HMOs as major payers.

While not direct end-users, government health programs (like Medicare/Medicaid in the US) and Health Maintenance Organizations (HMOs) are crucial customers because they control access and reimbursement. Abbott's ability to secure partial or full reimbursement for the FreeStyle Libre portfolio in 36 countries is a direct measure of its success with this payer segment. The Established Pharmaceuticals Division (EPD), which focuses on branded generics, also relies heavily on government and institutional contracts in emerging markets. EPD sales reached $1.51 billion in Q3 2025, with key emerging markets seeing 11.1% organic growth, indicating strong engagement with non-US government and public health customers.

The table below maps the major customer segments to the Q3 2025 financial performance of the corresponding business divisions.

Customer Segment	Primary Product Line	Q3 2025 Reported Sales (USD)	Q3 2025 Organic Growth
Patients with Chronic Disease (Diabetes)	Diabetes Care (FreeStyle Libre)	$2.0 Billion	16.2%
HCPs & Cardiologists (Interventional)	Medical Devices (Structural Heart, EP)	$5.45 Billion (Segment Total)	12.5% (Segment Total)
Hospitals, Clinics, & Labs	Diagnostics (Core Lab, Rapid Diagnostics)	$2.25 Billion (Segment Total)	0.4% (Excluding COVID-19 sales)
General Consumers (Adult Nutrition)	Adult Nutrition (Ensure, Glucerna)	$1.176 Billion	5.4%
Government Health Programs & HMOs	Established Pharmaceuticals Division (EPD)	$1.51 Billion	7.1%

The key customer groups driving Abbott's growth in 2025 are clear:

• Patients using high-tech, recurring-revenue medical devices, like the 7 million Libre users.
• HCPs adopting new, high-margin interventional cardiology procedures.
• Consumers consistently buying Adult Nutrition products, which saw 5.4% organic growth.

Next Step: Finance needs to model the sensitivity of the $2.15 billion Nutrition segment to potential future WIC contract changes by Friday.

Abbott Laboratories (ABT) - Canvas Business Model: Cost Structure

You're looking at Abbott Laboratories (ABT) and its cost base, and the direct takeaway is that their Cost Structure is a high-fixed-cost model, heavily weighted toward innovation and global scale, with R&D and SG&A driving most of the non-production spending. For the twelve months ending September 30, 2025, total operating costs and expenses are substantial, with a clear focus on maintaining a high adjusted operating margin of 23.5% to 24.0% of sales.

The company's strategy is clear: invest big in high-margin devices like FreeStyle Libre and then use a massive global sales force to drive volume. That's why the costs are concentrated where they are. Honestly, it's a classic pharmaceutical/med-tech model.

Heavy investment in Research and Development (R&D), targeting 7 percent of 2025 sales.

Abbott's commitment to innovation is a core cost driver, not a discretionary expense. For the twelve months ending September 30, 2025, the company's Research and Development (R&D) expenses stood at approximately $2.956 billion.

This spending is defintely aimed at maintaining its competitive edge in high-growth areas like continuous glucose monitoring (CGM) and structural heart devices. The internal target for R&D is often cited as around 7 percent of total sales, which, based on the Zacks Consensus Estimate for 2025 sales of $44.66 billion, is right in that neighborhood. Plus, they are backing this up with capital expenditures, like the $0.5 billion in new manufacturing and R&D investments in Illinois and Texas projected to go live by the end of 2025.

This is a cost of entry in the med-tech space; you stop innovating, you die.

Costs of Goods Sold (COGS) for a diverse product portfolio, including sensor manufacturing.

The Costs of Goods Sold (COGS) for Abbott are significant, reflecting the complexity of manufacturing everything from nutritional products like Ensure to high-tech medical sensors. For the twelve months ending September 30, 2025, the COGS was approximately $19.339 billion.

This figure includes the direct costs of producing their diverse portfolio, and the sheer volume of continuous glucose monitor (CGM) sensors for the FreeStyle Libre system is a major component here. Because the adjusted gross margin is projected to be around 57% of sales, the cost of manufacturing is high, but the pricing power of their innovative products keeps the margin healthy.

Selling, General, and Administrative (SG&A) expenses for a global direct sales force.

Selling, General, and Administrative (SG&A) expenses are the second largest operating cost, reflecting the massive infrastructure needed to sell and support a global product line. This is where the cost of Abbott's direct sales force-a key competitive advantage-sits.

For the twelve months ending September 30, 2025, SG&A expenses totaled approximately $12.110 billion. This cost is driven by:

• Marketing and advertising for consumer-facing brands (like Ensure).
• Compensation and training for a specialized medical device sales force.
• Administrative overhead for operations in over 160 countries.

The company is focused on operating margin leverage, meaning they want sales growth to outpace the growth of these administrative costs to hit their adjusted operating margin target.

Supply chain and logistics costs, including an expected few hundred million dollars in 2025 tariffs.

Managing a global supply chain for perishable nutrition products and sensitive medical devices is inherently expensive, but tariffs add a clear, measurable headwind. Abbott had to factor in significant tariff-related costs for 2025. While initial guidance in April 2025 mentioned a potential impact of a 'few hundred million dollars', the company provided a more precise update later in the year.

The tariff-related costs for 2025 are now expected to total just under $200 million, with most of that impact landing in the second half of the year. This cost is part of a larger, over $1 billion financial headwind for 2025 that also includes the decline in COVID-19 testing revenue and a foreign aid freeze.

Here's the quick math on the major cost components for the twelve months ending September 30, 2025:

Cost Component	Amount (in Billions)	Primary Driver
Costs of Goods Sold (COGS)	$19.339B	Sensor manufacturing (FreeStyle Libre), Nutrition product production
Selling, General, and Administrative (SG&A)	$12.110B	Global direct sales force, marketing, and administrative overhead
Research and Development (R&D)	$2.956B	New product pipeline (e.g., AVEIR, Navitor), innovation defense
Tariff-Related Costs (2025 Projection)	~$0.200B (Just under $200 million)	Supply chain duties, primarily in the second half of the year

What this estimate hides is the ongoing cost of mitigating these tariffs, like shifting manufacturing or redesigning supply lines, which is a long-term capital expense.

Next Step: Review your own portfolio's exposure to Abbott's supply chain risks and their ability to absorb the $0.200 billion tariff hit.

Abbott Laboratories (ABT) - Canvas Business Model: Revenue Streams

You're looking at Abbott Laboratories' revenue streams, and the picture is clear: the company has successfully shifted its core earnings engine from pandemic-era diagnostics to high-growth, recurring-revenue medical devices. The total reported net sales for the third quarter of 2025 hit $11.37 billion, demonstrating the sheer scale of this diversified model.

The key takeaway is that your primary revenue source is now the sale of complex medical devices, but the long-term stability comes from the high-margin, consumable products that fuel those devices.

Product Sales from Medical Devices, the largest segment

The Medical Devices segment is the undisputed revenue leader, generating $5.45 billion in sales during Q3 2025.

This segment's strength is broad, showing 12.5% organic growth in the quarter, which is a fantastic number. This isn't just selling a big-ticket item once; it's the combination of initial device sales-like the MitraClip or the Aveir leadless pacemaker-and the subsequent, ongoing revenue from consumables and accessories. It's a classic razor-and-blade model, but with life-changing technology.

Here's the quick math on the segment's performance drivers:

• Diabetes Care (Continuous Glucose Monitoring systems): Over $2.0 billion in Q3 2025 sales. [cite: 2, 7 (from first search)]
• Structural Heart: Benefiting from new approvals like TriClip in Japan. [cite: 2 (from first search)]
• Electrophysiology and Rhythm Management: Strong double-digit growth. [cite: 2 (from first search)]

Recurring revenue from consumable products

The most valuable revenue stream, from a quality standpoint, is the recurring revenue generated by consumables. This is the defintely sticky money. The best example is the FreeStyle Libre continuous glucose monitoring (CGM) system.

The system requires users to replace the sensor every two weeks, creating a subscription-like revenue stream that drove the Diabetes Care division to over $2.0 billion in Q3 2025 sales, with 17.2% organic growth. [cite: 2 (from first search), 7 (from first search)] Beyond the CGM sensors, the revenue stream includes diagnostic reagents and test kits used in their Core Laboratory systems, which ensures labs keep ordering supplies after the initial system sale.

Sales of Nutritional Products (Ensure, Glucerna, Similac)

Nutrition is Abbott Laboratories' third-largest revenue segment, delivering $2.153 billion in total sales in Q3 2025, which was a reported increase of 4.2%. [cite: 1 (from second search), 3 (from first search)]

The segment is split between two distinct customer segments:

• Adult Nutrition: Sales of $1.176 billion, led by the strong performance of Ensure and Glucerna. [cite: 3 (from first search)]
• Pediatric Nutrition: Sales of $977 million, primarily driven by Similac and other infant formulas. [cite: 3 (from first search)]

Adult Nutrition is consistently the growth engine here, showing 5.8% reported growth in the quarter, while Pediatric Nutrition faces more competitive and regulatory challenges. [cite: 3 (from first search)]

Sales of Established Pharmaceuticals (branded generics) in emerging markets

This segment focuses on selling branded generic medicines, primarily in emerging markets across Asia, Latin America, and the Middle East. It's a smart strategy to capture growth where patent protections are less stringent and demand for affordable, trusted brands is high.

In Q3 2025, the Established Pharmaceuticals segment generated $1.5 billion in sales, with a reported growth of 7.5%. [cite: 4, 1 (from second search)] Sales in the Key Emerging Markets-the most attractive long-term growth areas-were particularly strong, showing 10.3% reported growth. [cite: 1 (from second search)] This steady, high-single-digit growth provides geographic diversification and a stable counter-cyclical revenue stream.

Revenue from Diagnostics systems and testing

The Diagnostics segment, which includes Core Laboratory, Molecular, and Rapid Diagnostics, contributed $2.3 billion in Q3 2025. This segment is currently navigating significant headwinds, which is what investors are watching closely.

The major challenge is the expected decline in COVID-19 testing revenue, which is projected to create a revenue impact of around $700 million on the full-year 2025 sales growth for the Diagnostics division. [cite: 3 (from second search), 7 (from second search)] The fading pandemic effect is clear: COVID-19 testing-related sales were only $69 million in Q3 2025, down sharply from the prior year. [cite: 2 (from second search)]

What this estimate hides is the underlying strength of the base business, which, excluding the massive drop in COVID testing, saw a modest organic growth of 0.4% in Q3 2025. [cite: 2 (from second search)]

Here is the Q3 2025 revenue breakdown by segment:

Revenue Segment	Q3 2025 Sales (Reported)	Reported Growth Rate (YoY)	Key Revenue Type
Medical Devices	$5.45 billion	12.5% Organic Growth	Product Sales & Consumables
Nutrition	$2.153 billion	4.2% Reported Growth	Product Sales (Ensure, Similac)
Diagnostics	$2.3 billion	(6.6%) Reported Decline	System Sales & Consumable Reagents
Established Pharmaceuticals	$1.5 billion	7.5% Reported Growth	Branded Generic Product Sales
Total Company Sales	$11.37 billion	6.9% Reported Growth

Finance: Track the Diagnostics segment's organic growth ex-COVID-19 testing for Q4 2025 to see if the $700 million headwind is truly easing.