(Reuters) – Abbott Laboratories on Tuesday cut its full-year 2021 profit forecast due to a projected drop in COVID-19 diagnostic testing demand, sending its shares down 4.1% before the bell.'This has been driven by several factors, including significant reductions in cases in the U.S. and other major developed countries, accelerated rollout of COVID-19 vaccines globally and, most recently, U.S. health authority guidance on testing for fully vaccinated individuals,' the drugmaker said.Abbott generated billions in sales for its COVID-19 tests last year, but analysts have cautioned that demand is likely to fall this year.

https://kfgo.com/2021/06/01/abbott-cuts-2021-profit-forecast-on-lower-covid-19-testing-demand/

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