Medical devices giant Abbott Laboratories (NYSE: ABT) was on fire last year for one simple reason: Even though many of its business segments suffered due to the pandemic, the company established itself as one of the leaders in the COVID-19 testing market. Abbott Laboratories sold several hundred million coronavirus test kits last year, which helped keep the company's revenue and earnings afloat. In the fiscal year 2020, ending Dec. 31, Abbott Laboratories recorded sales of $34.6 billion -- an 8.5% year over year increase.
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