Medical device company Abbott raises profit guidance on outlook

Abbott has a significant manufacturing presence in Ireland

The results in medical devices, especially those used for patients with diabetes, helped ease concerns about litigation related to the company’s baby formula products. File picture

Abbott Laboratories nudged up its full-year profit guidance as strong growth in its medical-devices segment helped quarterly results beat estimates.

Medical device sales grew 12% led by strong performance for the company’s Libre blood glucose monitor.