Demand For Abbott Labs Covid-19 Tests Soars Past 40 Million As Pandemic Cases Surge

Abbott Laboratories said demand is surging for its portfolio of tests for the coronavirus strain Covid-19 as the pandemic triggers unprecedented need for its diagnostic products around the world.

Abbott, which sells an array of established drugs, medical devices for people with diabetes and diagnostics, said Covid-19 diagnostic-testing related sales were $615 million in the second quarter of the company’s global sales of $7.3 billion, the company said Thursday in its quarterly earnings report.