Abbott Reports 16.1 Percent Sales Growth in Fourth Quarter

AbbottAbbott (NYSE: ABT) today announced financial results for the fourth quarter ended Dec. 31, 2007.
  • Worldwide sales in the fourth quarter increased 16.1 percent to $7.2 billion, including a favorable 4.5 percent effect of exchange rates. For the full-year 2007, worldwide sales increased 15.3 percent to $25.9 billion, including a favorable 3.2 percent effect of exchange rates.
  • U.S. pharmaceutical sales increased 16.6 percent and international pharmaceutical sales increased 21.3 percent, driven by double-digit growth in HUMIRA(R), Kaletra(R) and TriCor(R), and including $179 million of Niaspan(R) sales. HUMIRA achieved full-year worldwide sales in excess of $3 billion in 2007 and the company forecasts global sales for HUMIRA of approximately $4 billion in 2008.
  • Worldwide medical products sales increased 11.5 percent, driven by 15.2 percent growth in worldwide Diabetes Care sales and 16.4 percent growth in international diagnostics sales.
  • Worldwide nutritional products sales were led by 26.2 percent growth in international nutritionals, with continued strong performance in key emerging growth markets.

"The strength and balance of Abbott's broad mix of businesses helped us to deliver another year of consistent performance," said Miles D. White, chairman and chief executive officer, Abbott. "Both our sales and earnings per share increased double digits. Given the leadership positions of our major businesses, and the new products launching over the next year, we expect another year of strong results in 2008."

About Abbott
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs 65,000 people and markets its products in more than 130 countries.

Abbott's news releases and other information are available on the company's Web site at http://www.abbott.com.

Most Popular Now

AstraZeneca enters license agreement with KYM Bios…

AstraZeneca and KYM Biosciences Inc.* have entered into a global exclusive licence agreement for CMG901, a potential first-in-class antibody drug conjugate (ADC) targetin...

Pfizer receives positive FDA Advisory Committee vo…

Pfizer Inc. (NYSE: PFE) announced that the U.S. Food and Drug Administration's (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted that avail...

First nasal monoclonal antibody treatment for COVI…

A pilot trial by investigators from Brigham and Women's Hospital, a founding member of the Mass General Brigham healthcare system, tested the nasal administration of the ...

US FDA Advisory Committee votes to support effecti…

GSK plc (LSE/NYSE: GSK) announced that the US Food and Drug Administration (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted that the avail...

"Semantic similarity" leads to novel dru…

The words that researchers use to describe their results can be harnessed to discover potential new treatments for Parkinson's disease, according to a new study published...

Tumour cells' response to chemotherapy is driven b…

Cancer cells have an innate randomness in their ability to respond to chemotherapy, which is another tool in their arsenal of resisting treatment, new research led by the...

Engineered bacteria find tumors, then alert the au…

Combining discoveries in cancer immunology with sophisticated genetic engineering, Columbia University researchers have created a sort of "bacterial suicide squad" that ...

Nanosatellite shows the way to RNA medicine of the…

The RNA molecule is commonly recognized as messenger between DNA and protein, but it can also be folded into intricate molecular machines. An example of a naturally occur...

Gene and cell therapies to combat pancreatic cance…

Pancreatic cancer is an incurable form of cancer, and gene therapies are currently in clinical testing to treat this deadly disease. A comprehensive review of the gene an...

Digital twin opens way to effective treatment of i…

Inflammatory diseases like rheumatoid arthritis have complex disease mechanisms that can differ from patient to patient with the same diagnosis. This means that currently...

Pfizer's ZAVZPRET™ (zavegepant) migraine nasal spr…

Pfizer Inc. (NYSE: PFE) today announced the U.S. Food and Drug Administration (FDA) has approved ZAVZPRET™ (zavegepant), the first and only calcitonin gene-related peptid...

AI conjures proteins that speed up chemical reacti…

For the first time, scientists have used machine learning to create brand-new enzymes, which are proteins that accelerate chemical reactions. This is an important step in...