Abbott reveals 'stronger-than-expected' results
16 Jul 2008
Abbott has reported stronger-than-expected sales and earnings growth in the second quarter.
The drugs company said its worldwide sales increased by 14.8 per cent to $7.3 billion (£3.7 billion).
It added global medical products sales were up by 14.7 per cent - an increase driven by a 17.2 percent growth in global diagnostics sales.
Miles D White, Abbott's chairman and chief executive officer, said: "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."
He said the company had seen a strong performance across the business, adding there had been especially strong international results.
Abbott recently announced the start of a post-approval study in the US for its Xience product.
Xience is a drug-eluting stent used to treat coronary artery disease by propping open a narrowed artery and emitting a controlled release of the drug everolimus.
