Abbott announces financial results

Abbott has reported stronger sales than it had initially anticipated, boasting high earnings growth during the second quarter.

The pharmaceutical firm has raised its full-year outlook following the three months to June 30th, noting worldwide sales increase by almost 15 per cent, reaching $7.3 billion (3.6 billion pounds).

Miles D White, the chairman and chief executive officer of Abbott, explained there had been particularly strong results internationally.

This was true across the business’ diverse operations, he continued.

“Based on our first-half results, as well as our outlook for the remainder of the year, we’re raising our 2008 forecast for both sales growth and earnings-per-share,” Mr White added.

Earlier this month, Abbott began its post-approval research within the US into XIENCE V, a possible treatment for coronary artery disease.

It asserted that so far, clinical trials have shown improved outcomes for patients.

Jack Jones, an interventional cardiologist and medical director of the Stormont-Vail Catheterisation Lab, commented that the drug could become a “key” change in the way coronary heart disease is handled.