Abbott sees growth in fourth quarter and full year in 2011

Abbott has announced its financial results for the final quarter of 2011, highlighting positive growth trends for both the three-month and 12-month periods.

During the fourth quarter of the year, the company generated sales of $10.38 billion (6.61 billion pounds), representing a 4.1 per cent year-on-year increase on a reported basis.

This contributed to a full-year sales total of $38.85 billion, up by 10.5 per cent compared to 2010, with the largest percentage of this sum coming from its proprietary pharmaceuticals business.

Over the last 12 months, Abbott has achieved key clinical and regulatory goals for several new products and devices, while expanding its partnership with Reata Pharmaceuticals and outlining plans to split its operations into two separate companies.

Miles White, chairman and chief executive officer of Abbott, said this process will be completed by the end of 2012, with the two newly created businesses to offer shareholders "distinct identities with unique investment opportunities".

Last month, it was announced that the company will be allying with the University of Illinois to conduct new research into nutritional health.