Health-care companies ticked down as traders hedged their bets on the outlook for growth in the sector.
Abbott Laboratories, maker of popular rapid tests for Covid-19, said that testing-related sales were $2.3 billion globally in the last three months of 2021 but forecast that demand for the tests will slow this year.
Rapid-test sales from Abbott's BinaxNow, Panbio and ID NOW brands grew to $2.1 billion, from $1.9 billion a year earlier, reflecting global struggles with the Omicron variant. Shares of vaccine makers Pfizer and BioNTech recouped some of their recent losses.
Quest Diagnostics said it's now offering a Covid-19 testing option that allows them to order a rapid at-home test and then collect the swab sample while being monitored by remote health care professionals.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-26-22 1736ET
