Abbott hails success of growth strategy in 2010

Abbott has expressed satisfaction with the progress of its long-term strategy in 2010 after recording a year of business growth.

The healthcare firm's worldwide sales for the 12 months came to a total of $9.97 billion (6.28 billion pounds), with surging medical sales following the acquisition of Solvay Pharmaceuticals noted as a key driver.

During the last year, the company has presented positive clinical data on new treatments for conditions such as chronic kidney disease, hepatitis C and multiple myeloma, while agreeing a new collaboration with EpiTherapeutics.

It has also taken steps to restructure its pharmaceutical operations in the US in order to better absorb the impact of changes to the regulatory and legislative environment.

Miles White, chairman and chief executive officer at Abbott, said: "We anticipate delivering another year of double-digit ongoing earnings-per-share growth in 2011."

Earlier this week, the company announced the launch of the new Architect 25-OH Vitamin D testing system in Europe.