By the numbers
Q3 revenue: $11.37 billion
6.9% increase year over year
Net income: $1.64 billion
Flat year over year
As competitors continue to see success with their first pulsed field ablation systems in the U.S., Abbott is preparing to launch its own system next year.
Medtronic, Boston Scientific and Johnson & Johnson have already debuted PFA systems in the U.S. However, Abbott CEO Robert Ford told investors Wednesday that the company has not been playing defense.
“I don’t think it’s a question of Abbott being late,” Ford said on an earnings call. “We’re right on time, and we’re complete with the full portfolio.”
Cardiac ablation is used to treat heart rhythm disorders, and PFA is quickly becoming the preferred method, due to its potential for safer and faster procedures. Abbott received Europe’s CE mark for its Volt PFA system in March, and said it expects Food and Drug Administration approval in 2026.
Ford said some things that distinguish Volt are that the system delivers deeper, more durable lesions. He added that the device has a real-time contact visualization feature, which can reduce the number of applications, allowing procedures to be run under conscious sedation instead of general anesthesia.
Abbott’s electrophysiology business, which includes its PFA devices, brought in $705 million in sales in the third quarter, a more than 15% increase year over year. Ford said he expects the business to improve next year with the new product launch.
Diabetes business prepares for dual-analyte sensor
Another new product that Ford highlighted on the call is a dual-analyte sensor in Abbott’s diabetes business.
Abbott plans to launch a sensor that can measure both glucose and ketones, which could help people avoid diabetic ketoacidosis, a serious complication of diabetes.
The diabetes business generated $2.06 billion in sales during the third quarter, a 19% increase year over year.
Abbott sees other opportunities for growth with expanding coverage of its devices. While Medicare now covers continuous glucose monitors for people with Type 2 diabetes who only take basal insulin, Ford said the basal insulin segment in the U.S. is just 20% penetrated.
The CEO also expects the Centers for Medicare and Medicaid Services to broaden coverage for people with Type 2 diabetes who don’t take insulin, noting the American Diabetes Association is “very supportive.”
Abbott expects proposed coverage for this group of people may come out next year, but the company is not budgeting a final coverage decision into its 2026 forecast.
