Abbott highlights strong growth in second quarter of 2011

Abbott has published its financial report for the second quarter of 2011, during which the company experienced a strong growth performance across all of its major business units.

The healthcare company's global sales increased by nine percent year on year during the three months to reach a total of $9.6 billion (5.9 billion pounds), led primarily by a double-digit rise in proprietary pharmaceutical sales.

Its innovation-driven device unit also saw an increase compared to last year, while achieving milestones such as the launch of the Xience nano stent and CE Mark approval for the FreeStyle InsuLinx blood glucose monitoring system.

Miles White, chairman and chief executive officer of Abbott, said the firm has been satisfied by the expansion of its portfolio and its growth in emerging markets in the last quarter.

"Abbott is well-positioned for a strong second half of the year as we remain on track for double-digit earnings per share growth in 2011," he said.

Last month, the company agreed a new alliance with fellow healthcare firm Biotest, which will aim to create treatment options of conditions such as rheumatoid arthritis and psoriasis.