The program applies to the FDA’s Center for Drug Evaluation and Research (CDER) and the Center for Biologics Evaluation and Research (CBER), and it is scheduled to take effect as a pilot program on Apr. 1.

As part of the scheme, the incentives will be offered to FDA scientists and their teams who complete various sections of drug reviews ahead of schedule, according to a copy of a presentation about the program.

The regulator will also consider the quality and complexity of their reviews in determining the size of the bonuses, which the FDA official said could be around a few thousand dollars per quarter. The final bonuses are yet to be finalized.

The regulator is expected to announce the plan at an internal meeting on Thursday. The FDA didn’t immediately respond to Bloomberg’s request for comment.

The official added that a recruitment drive is underway at the FDA to add more than 1,000 new scientists to accelerate drug reviews. The moves follow several high-profile departures at the FDA in 2025.

Late last year, Richard Pazdur, a well-respected oncologist and 26-year veteran at the agency, filed papers to retire at the end of December, less than a month after being named the director of the CDER.

In April, Peter Marks, who spearheaded Operation Warp Speed during President Donald Trump’s first term, resigned as the head of the CBER, blaming Health and Human Services Secretary Robert F. Kennedy, Jr., for his departure.

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While remaining as the head of the NIH, Bhattacharya will lead the CDC until President Donald Trump names a permanent replacement, which requires Senate confirmation.

The appointment comes after Jim O’Neill, the former acting CDC director, resigned last week as part of a leadership shake-up at the Department of Health and Human Services (HHS).

O’Neill, who also left his position as deputy health secretary, is expected to be nominated by Trump to lead the National Science Foundation, according to the officials.

In August, HHS Secretary Robert F. Kennedy Jr. fired former CDC director Susan Monarez less than a month after she took office, accusing her of not aligning with the Trump administration’s healthcare policies.

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A weekly overview of insider trading, highlighting significant purchases and sales by investors, directors, and executives. The transactions occurred between February 2, 2026, and February 6, 2026.

• Johnson & Johnson (JNJ) CEO Joaquin Duato sold 100,000 shares in the price range of $220.99 to $221.48 per share, for a total of $22.12M. Following the transaction, he continues to hold 307,807 shares.
• Johannes Oosthuizen, President of the U.S. Market at Merck (MRK), disposed of 15,000 shares at an average price of $121.87 per share, totaling $1.83M. His holdings stood at 21,197 shares after the sale.
• At Micron Technology (MU), EVP of Global Operations Manish Bhatia sold a total of 26,623 shares within the price range of $388.78 to $395.87 per share, resulting in proceeds of $10.41M. He continues to hold 323,486 shares.
• Goldman Sachs (GS) disclosed two insider sales in the week. CEO David Solomon let go of 272 shares at an average price of $938.92 per share for $255,387, retaining 16,171 shares. Meanwhile, Global Treasurer Carey Halio sold 2,846 shares in the price range of $921.25 to $932.81 per share for total proceeds of $2.64M, leaving her with 2,017 shares.
• Daniel Simkowitz, co-president at Morgan Stanley (MS), sold 32,968 shares at an average price of $182.61 per share, for a total worth of $6.02M. Following the transaction, his holdings stood at 359,137 shares.
• Intel (INTC) disclosed that EVP and CFO David Zinsner purchased 5,882 shares at an average price of $42.50 per share, for a total investment of $249,985. Following the purchase, he held 247,392 shares.
• Robert Ford, chairman and CEO of Abbott Laboratories (ABT), acquired 18,800 shares at an average price of $107.13 per share, amounting to $2.01M. His total holdings increased to 469,508 shares.
• GameStop (GME) Director Lawrence Cheng bought 5,000 shares at an average price of $22.87 per share, representing a total purchase value of $114,368. He now holds 88,000 shares.
• International Business Machines (IBM) reported that Director David Farr purchased 1,000 shares at an average price of $304 per share, for a total investment of $304,000. Following the transaction, he owned 9,258 shares.
• Naimish Patel, Chief Medical Officer at CRISPR Therapeutics (CRSP), acquired 1,508 shares at an average price of $32.96 per share, totaling $49,704. He held 1,508 shares after the purchase.

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The HSR waiting period for the deal was set to expire on Thursday. There was at least one report circulating that HSR had indeed expired, meaning that the $105 a share deal had cleared antitrust scrutiny, traders told Seeking Alpha on Friday.

Exact Sciences (EXAS) and Abbott (ABT) didn’t immediately respond to Seeking Alpha’s email request for comment.

Abbott (ABT) agreed to acquire cancer-screening company Exact Sciences (EXAS) in an all-cash deal valued at $21 billion in November.

Shares of Abbott ticked higher by 0.5%.

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The announcement came after Abbott (ABT) reported that faulty glucose readings tied to some of its FreeStyle Libre 3 and FreeStyle Libre 3 Plus sensors have caused 860 serious injuries and seven deaths as of Jan. 7.

The company has informed the patients impacted by the recall through letters sent on Nov. 25. According to Abbott (ABT), the faulty devices can cause inaccurate clinical decisions impacting people with diabetes if incorrect readings go undetected in the long term, leading to findings of lower than actual blood glucose levels.

The FDA provided a link to the list of affected product lots and advised patients to immediately discontinue the use of FreeStyle Libre 3 if their products are included in the recall.

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The MedTech giant started its downward trend on Jan. 15. The stock has lost over 13% in the preceding six sessions.

ABT closed 1% lower on Friday at $107.42. January has been a less favorable month for the company, as it traded 12 sessions in red and just three sessions in green.

Last week, the Illinois-based company’s shares closed 10% lower on Thursday after it reported lower-than-expected revenue for Q4 2025 following underperformance in its Nutrition segment.

Looking at Seeking Alpha’s Quant Rating, ABT has a Hold rating with a score of 3.06 out of 5. The company received A+ in the prospect of profitability, while it got D- in the growth factor.

Turning to the Wall Street community, 21 analysts gave ABT a Buy and above, eight analysts have given the stock a Hold recommendation, and no one recommended Sell or lower. Seeking Alpha analysts are also bullish and see the stock as a Buy.

“The recent pullback in Abbott Laboratories appears to be driven more by short-term sentiment than by any deterioration in its long-term fundamentals. Near-term weakness in the Nutrition and Diagnostics segments has pressured results. However, ABT continues to deliver solid earnings growth, expanding margins, and strong performance in high-growth areas,” pointed out a recent Seeking Alpha analysis by Gen Alpha.

Another Seeking Alpha analysts also argued that a post-earnings sell-off and a price dip are buying opportunities for investors.

Earlier in the day, Abbott said its Chairman and CEO Robert Ford purchased 18.8K of the company’s stock recently with a value of just over $2M.

The stock rose 10% last year, compared to the 16% rise in the broader S&P 500 Index.

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Management View

• CEO Robert Ford highlighted that 2025 showcased “Abbott’s leadership in innovation, disciplined execution and strategic actions taken to position the company for sustainable long-term growth.” He reported regulatory approvals for multiple products including Volt and TactiFlex Duo PFA, a new Navitor TAVR indication, CMS national coverage for TriClip and CardioMEMS, and the completion of pivotal trial enrollment for a new LAA device.
• Ford announced the acquisition of Exact Sciences, allowing entry into the cancer diagnostics market and adding a high-growth vertical to Abbott’s portfolio.
• Ford addressed challenges in Nutrition, noting a sales decline due to “market share loss, partly due to the loss of a large weight contract last year,” and emphasized a shift toward volume-driven growth with new pricing and promotion initiatives and a focus on innovation, stating “we expect to launch at least 8 new products over the course of the next 12 months.”
• He described Medical Devices as a strong performer with 10.5% sales growth, citing Diabetes Care CGM sales surpassing $7.5 billion for the year and double-digit growth across Rhythm Management, Electrophysiology, Structural Heart, and Vascular segments.
• CFO Philip Boudreau stated, “Sales increased 3.8% when excluding COVID testing sales. Adjusted earnings per share of $1.50 reflects growth of 12% compared to the prior year.” He added, “Adjusted gross margin profile was 57.1% of sales, which despite the impact of tariffs, increased 20 basis points compared to the prior year.”

Outlook

• Full-year 2026 guidance issued for adjusted earnings per share of $5.55 to $5.80, reflecting 10% growth at the midpoint, and organic sales growth expected in the range of 6.5% to 7.5%.
• Boudreau forecasted Q1 adjusted EPS of $1.12 to $1.18 and a favorable currency impact of around 1% on full-year reported sales.
• Ford indicated that “performance in the Nutrition to remain challenged in the first half of the year with a return to growth in the second half,” and expects “accelerating growth in 2026” driven by innovation and strategic execution.

Financial Results

• Sales increased 3.8% excluding COVID testing.
• Adjusted operating margin reached 25.8% of sales, a 150 basis point increase from the prior year.
• Adjusted R&D was 6.2% of sales, adjusted SG&A was 25.1% of sales.
• Foreign exchange had a favorable 1.4% year-over-year impact on Q4 sales.
• The Nutrition business experienced a sales decline, while Medical Devices and EPD reported double-digit growth in key segments.

Q&A

• Larry Biegelsen, Wells Fargo: Asked about guidance being lower than prior consensus and the impact of Nutrition. Ford responded that “the 0.5 point change on the top line is, as you pointed out, really the change in the near-term outlook…of our Nutrition business,” and affirmed confidence in returning to growth by the second half of 2026.
• David Roman, Goldman Sachs: Inquired about the EP portfolio and risk considerations in the outlook. Ford described a “toolbox approach” in EP and stated, “I think we’re in a really good position, and I’m excited to see the second part of the strategy that we put together 3 years ago.” On guidance, he explained that “a very big portion of the company…is sustaining this high single-digit growth,” with acceleration in Diagnostics as headwinds fade.
• Robert Marcus, JPMorgan: Asked about CGM growth and margin expansion. Ford confirmed “the math will work out…in the kind of low teens” for CGM growth, and Boudreau added, “we continue to look at a 50 to 70 basis point improvement in operating margins every year.”
• Vijay Kumar, Evercore ISI: Queried on AVEIR penetration and capital allocation post-Exact Sciences. Ford estimated AVEIR at “about 10%” penetration in a $5 billion market and reaffirmed focus on integrating Exact Sciences.
• Danielle Antalffy, UBS: Sought clarification on Nutrition pricing strategy and profitability. Ford reported “early signs are encouraging” on pricing initiatives and stated profitability is “probably from a profile perspective, going to be in line with what it was in 2025.”
• Matthew Taylor, Jefferies: Asked about Diagnostics in China. Ford noted “we’ve gone through what I would consider the bulk of our VBP,” projecting mid-single-digit growth overall and 7%-8% excluding China.
• Travis Steed, BofA: Asked about MedTech macro environment and cadence. Ford stated, “Our volumes are really good in Q4 across all of our categories,” and growth is expected to accelerate in the second half.
• Joanne Wuensch, Citi: Addressed EPD and Structural Heart. Ford stated, “EPD delivered its fifth consecutive year of sales growth exceeding 7%,” and outlined continued investment in Structural Heart.
• Joshua Jennings, TD Cowen: Asked about capital allocation and Nutrition recovery. Ford said, “I don’t consider a need for inorganic in our Nutrition business to execute the strategy that I just described.”

Sentiment Analysis

• Analysts’ tone was neutral to slightly cautious, with repeated probing on Nutrition recovery, margin sustainability, and market headwinds, as well as strategy in EP and Diagnostics.
• Management maintained a confident tone in prepared remarks and Q&A, especially regarding innovation, pipeline execution, and the integration of Exact Sciences. Ford repeatedly emphasized confidence in the company’s ability to manage short-term Nutrition challenges and drive long-term growth, including statements like “I’ve got high expectations for this business this year.”
• Compared to the previous quarter, management showed slightly more defensiveness regarding Nutrition but sustained high confidence in operational execution and pipeline launches.

Quarter-over-Quarter Comparison

• The company shifted from reporting 4% sales growth in Nutrition in Q3 to a sales decline in Q4 and outlined a structural change to reignite volume growth, moving away from price-driven strategy.
• Q3 guidance language was confident in sustaining high single-digit sales and double-digit EPS growth; Q4 guidance reduced sales growth midpoint by 0.5% due to Nutrition headwinds but maintained 10% EPS growth.
• Analysts in both quarters focused on product pipeline, market share, and margin trajectory, but Q4 saw intensified questioning on Nutrition and capital allocation.
• Management’s confidence in MedTech, Diagnostics, and new launches remained strong quarter-over-quarter, with added emphasis on strategic acquisitions and operational discipline in Q4.

Risks and Concerns

• Management explicitly cited “heightened market challenges in China” and ongoing “manufacturing costs in nutrition” as key risks.
• Ford described “price increases in the current economic environment have become a factor in constraining volume growth” and stated, “the path is not sustainable in the long term.”
• Analysts raised concerns about the pace of Nutrition recovery, margin expansion, and the impact of VBP in China on Diagnostics.
• Mitigation strategies include new product launches, pricing and promotion shifts, increased innovation focus, and operational excellence across core segments.

Final Takeaway

Abbott Laboratories closed 2025 with robust performance in Medical Devices and EPD, while navigating Nutrition headwinds through a transition toward volume-driven growth and new product launches. The company forecasts 7% organic sales growth and 10% adjusted EPS growth in 2026, supported by strategic innovation, operational discipline, and the integration of Exact Sciences. Management remains confident in its ability to drive sustainable long-term growth, even as it addresses near-term challenges in Nutrition and adapts to evolving market conditions in China and other key markets.

Read the full Earnings Call Transcript

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