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Home Industry News Abbott discusses Q1 2009 results

Abbott discusses Q1 2009 results

16th April 2009

Abbott’s first quarter financial results for 2009 show how the company is able to perform well in challenging market conditions, it has asserted.

Taking the unfavourable 6.6 per cent effect of exchange rates in to account, worldwide pharmaceutical operational sales increased by 0.9 per cent, but the decline in Depakote products sold lowered sales growth by 6.1 per cent.

Operational sales of Humira, on the other hand, grew by 27.7 per cent, once an unfavourable 11 per cent effect on exchange rates was taken into account.

Excluding specified items, the healthcare company’s diluted earnings per share increased by 15.9 per cent to $0.73 (0.48 pounds) ? a result which was $0.03 above the firm’s guidance range for the first three months of the year.

Miles D White, chairman and chief executive officer of Abbott, explained the company achieved stable results in international pharmaceuticals sales.

“Our first-quarter results demonstrate again the value of a well-balanced and highly diverse portfolio of businesses capable of top-tier earnings performance in even the most difficult market conditions,” he remarked.

Earlier this month, the business announced a clinical study of Absolute Pro for patients with iliac artery disease.

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