Abbott announced healthy third quarter sales today in a conference call to investors, and chairman and CEO Robert Ford said Cologuard, the flagship product from its acquisition of Exact Sciences, made a solid contribution to that growth.
The global healthcare company also announced its intention to separate its $8.5 billion nutrition business into an independent, publicly traded company.
Abbott, which acquired Madison’s Exact Sciences earlier this year, reported third-quarter sales of $13.01 billion.
That represents a 14.5% increase over the same quarter of 2025, and 7% sales growth on a comparable basis.
The company said comparable sales growth includes the prior and current year sales of Exact Sciences, a cancer diagnostics company that Abbott acquired on March 23.
In cancer diagnostics, which now includes SimpleScreen CRC, a new blood based colorectal cancer screening test to complement Cologuard, Ford said sales growth of 14% was driven by Cologuard and contributions from Abbott’s precision oncology and international businesses.
“As the only company to offer both stool and blood-based screening options, we are expanding the options available to healthcare providers and patients to help achieve the goal of getting more people screened,” Ford said.
The company’s decision to spin off its nutrition business, which includes familiar brands such as Similac infant formula and the Pedialyte electrolyte drink, generated several questions from investors about the company’s remaining product portfolio.
Ford said the company likes the potential of its remaining portfolio, including the growth potential of newer items in the product pipeline.
That includes new cancer diagnostic tests introduced by Exact Sciences prior to its acquisition by Abbott.
They include Oncotype DX, a genomic test that guides treatment decisions for breast cancer; Oncodetect, a molecular residual disease (MRD) test to assess cancer recurrence risk; and Cancerguard, a multi-cancer, early detection blood test.
“We’re going to be reporting data on our MRD test at ESMO (European Society for Medical Oncology),” he said, referring to a prominent healthcare conference. “I’m extremely excited about that test and I think it’s going to provide us an opportunity also to be a player, or at least to compete effectively, in that segment of the market.”
Ford said the decision to spin off the nutrition business followed a comprehensive strategic review and reflects management’s strong belief that both Abbott and the new nutrition business can create greater value and achieve their maximum potential as independent organizations.
He said Abbott entered the nutrition business more than 60 years ago. Since that time, he said the company has built a strong foundation anchored by a talented global organization, iconic brands, and established market leadership positions across the pediatric and adult nutrition categories.
“The nutrition market has evolved over time with the pace of change accelerating significantly in recent years,” he said. “What was once predominantly viewed as a healthcare market, almost exclusively shaped by healthcare professionals, has increasingly become a market shaped by changing consumer preferences, wellness trends and retail execution.
“While this market evolution is not inherently positive or negative, it has fundamentally changed the environment in which we operate,” Ford said. “So, to best position our nutrition business for maximum long term success, we must evolve and adapt accordingly.”
Daniel Salvadori, executive vice president and group president of Abbott’s established pharmaceuticals and nutritional products, will become CEO of the new nutrition company.
In morning trading, investors reacted negatively to news of the spinoff. By 11 a.m. central time, Abbott’s share price on the New York Stock Exchange dropped 3.9% from its previous day closing price of $102.45.
