Abbott’s diagnostics business sees growth in third quarter

Abbott has made positive progress in the development of its diagnostics business activities in the last three months.

The healthcare company's latest quarterly financial report reveals that its global diagnostics sales reached a total of $916 million (581.7 million pounds) in the third quarter, 0.8 percent ahead of the figure from Q3 2009.

Abbott noted continued double-digit growth in its molecular and point of care business units, as well as the launch of a number of important new assays for its Architect immunochemistry platform in 2010.

It added that more than 12 molecular diagnostic products will be launched over the next two or three years, including new instrument systems and assays for oncology and infectious disease applications.

Miles White, the company's chairman and chief executive officer, said: "Abbott delivered strong performance in the quarter as we confirmed our double-digit growth outlook for the full year."

Recent diagnostic innovations from Abbott include the PLEX-ID system for microbial identification, the Architect HIV antigen/antibody combo assay and the m2000 assay for sexually-transmitted infections.