3M Health Care sees growth in 2010

3M Health Care has seen a year-on-year growth in sales during 2010, according to the group's latest financial report.

The business unit generated $4.5 billion (2.8 billion pounds) in sales during the last 12 months, up by 5.2 percent compared to 2009, with $1.2 billion coming in the fourth quarter.

Data from the last three months shows that 3M Health Care experienced improved business in all territories, with infection prevention, woundcare, health information systems and drug delivery all noted as growth areas.

Across the 3M group as a whole, annual sales for 2010 came to $26.7 billion, up by 15.3 percent compared to the year before.

George Buckley, the firm's chairman, president and chief executive officer, said: "3M made great progress in 2010 as we achieved record sales and earnings per share for the year and made significant investments to improve long-term growth."

In December 2010, the firm agreed a deal to license its immune response modifier molecule technology to Spirig Pharma for use in a new dermatology offering.