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Home Industry News Abbott announces rise in sales

Abbott announces rise in sales

18th April 2008

Abbott, the group behind Abbott Animal Health, has announced an increase in its worldwide sales during the first quarter of 2008.

It noted that sales grew 13.8 per cent to $6.8 billion (£3.4 billion), which includes a favourable 5.5 per cent effect of exchange rates.

Miles D White, chairman and chief executive officer of Abbott, commented that the firm’s success during 2007 had placed it in a strong position for 2008.

Last year the company enjoyed double-digit growth in both sales and earnings.

“The continued productivity of our late-stage pipeline, combined with the underlying strength of our broad mix of businesses, gives us a high level of confidence in our future growth outlook,” Mr White added.

Commenting earlier this year as Abbott released its financial results for the final three months of 2007 the chief executive predicted 2008 would see “strong results”.

He made this forecast because of new products Abbott plans to launch and the leadership of the group’s major sectors.

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