Abbott records double-digit Q2 sales growth

Abbott has published its financial breakdown for the second quarter of 2010, reporting a 17.8 per cent rise in global sales compared to the corresponding period of last year.

The company’s sales total for the quarter came to $8.8 billion (5.8 billion pounds), driven by double-digit growth of almost all of the firm’s main business units.

Abbott’s pharmaceutical sales performance played a large role in this improvement, with worldwide sales increasing by 24.5 per cent, thanks in part to the recent acquisition of Solvay Pharmaceuticals.

Miles White, chairman and chief executive officer at Abbott, also pointed to the company’s efforts to expand its presence in emerging markets in the last quarter with the takeover of Piramal Healthcare Solutions.

He added: “Abbott’s diverse sources of earnings growth led to strong financial results again this quarter, continuing Abbott’s record of steady, reliable performance.”

Earlier this month, Abbott published new clinical trial data on its HIV drug Kaletra, demonstrating its efficacy when used in combination with the Merck Sharpe and Dohme therapy Isentress.