Abbott Laboratories (ABT) Launches FDA-Approved SimpleScreen CRC

Mississippi will receive $770,000 from a $384.2M settlement between Abbott Laboratories and 39 states plus the federal government over alleged safety violations in infant formula products. Abbott is accused of selling contaminated products and defrauding Medicaid programs.

Abbott (ABT) launched SimpleScreen CRC, a blood test for colorectal cancer screening, developed by Freenome and FDA-approved. It will be sold alongside Cologuard Plus, acquired via Exact Sciences. The test has 81.1% sensitivity for cancer. Medicare covers it for eligible patients. The ACS recommends blood tests only for those who decline preferred methods.

Mississippi and 39 other states, plus the federal government, settled with Abbott Laboratories for $384M over allegations of selling unsafe infant formula. Abbott will pay $348.7M to the U.S. and $35.5M to the states, with Mississippi receiving $771K. The settlement resolves claims of false claims submissions from 2018 to 2022.

Abbott launched SimpleScreen CRC, an FDA-approved blood test for colorectal cancer screening, developed by Freenome. The test is for average-risk adults 45+ and is covered by Medicare. It detected 81.1% of cancers in trials. Abbott aims to expand screening options, with support services for patients.

Abbott (ABT) launched SimpleScreen CRC, an FDA-approved blood test for colorectal cancer screening in average-risk adults 45+. The test showed 81.1% sensitivity and 90.4% specificity in a clinical study. Medicare covers the test for eligible patients. ABT's stock is currently at $99.34, down 1.52%.

Abbott Laboratories (ABT) launched SimpleScreen CRC, an FDA-approved blood test for colorectal cancer screening. The company offers a 2.51% dividend yield, a GF Value of $134.50, and a GF Score of 84. Insiders have sold more shares than purchased recently, while guru investors show mixed activity. Abbott's diagnostics segment, including this new test, is part of its broader healthcare portfolio.