Abbott reports strong first-quarter growth

Abbott has announced its financial results for the first quarter of the 2013 business year, during which it generated a worldwide sales total of $5.38 billion (3.53 billion pounds).

Excluding the impact of foreign exchange rates, this represented a 3.5 percent year-on-year increase that was consistent with previous guidance, allowing the company to confirm its financial guidance for the full year.

During the first quarter, Abbott was able to launch several new products – including the Accelerator a3600 automation platform, several Architect assays and the Xience Xpedition stent – as well as initiating a number of clinical trials.

Miles White, chairman and chief executive officer at Abbott, said: "Strong performance in nutrition and diagnostics, as well as overall results in emerging markets, led our sales growth this quarter."

This was the first financial quarter since Abbott spun off its research-based pharmaceuticals business into the new standalone operation AbbVie and demonstrates that the growth prospects of the company remain strong.