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financial results

The company has shut down the Veris molecular diagnostics product line, which Beckman Coulter spent years developing, as a result of its acquisition of Cepheid.

Abbott CEO Miles White said that he is confident that Abbott's acquisition of Alere will close as expected before the end of Q3.

The change comes amid lower than expected revenues for the first half of this year, as well as an anticipated continued lack of reimbursement coverage in the US. 

Sales for its cardiometabolic tests dropped sharply, while sales for its flu tests soared and its consumer diagnostics sales were flat.

The company's revenue growth was helped along by increased sales of its AlloMap heart transplant test.

The company also announced that it has received New York State Department of Health conditional approval for three women's health molecular diagnostic tests.

The firm's Q4 global influenza sales were up 60 percent year over year, and in 2016 its global infectious disease business achieved double-digit sales growth.

The company also disclosed that it has modified the US regulatory package for its lower respiratory tract diagnostic panel after discussions with the FDA.

The firm said today that it received a notice that it is out of compliance with a rule requiring timely filings with the US Securities and Exchange Commission.

The firm also reported that both preliminary 2016 revenues and preliminary Q4 revenues would be down 3 percent. 

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