After Demand Climbed With COVID-19, Abbott Expects Continued Nutritional Line Sales Growth
Post-Pandemic OTC Diagnostics Sales Also Look Promising To Firm
CEO Robert Ford says “dynamics” of more consumers fortifying their diets to promote immunity from COVID-19 “are driving strong growth for our Ensure and Glucerna brands.” Analysts don't share Ford's confidence, though, for continued OTC diagnostics sales growth.
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“We see this is a as a significant opportunity, and quite frankly, a trend that's been happening overseas and is kind of now happening here in the US,” says Abbott Labs CEO Robert Ford.
CDER compliance office director Donald Ashley offers a cautionary note to temper expectations for the FDA’s enforcement in the supplement sector. “We continue to warn the public about products very often sold as dietary supplements that contain hidden drugs,” he says.
UCLA professor Chris Tang says like most US businesses relying on supplies or production from outside the country, particularly from China, consumer health and beauty and personal care product companies should expect at least another year of supply disruption.