Worldwide Pharmaceutical Sales Increased 19.6 Percent. Worldwide Medical Products Sales Increased 12.0 Percent. International Nutritionals Sales Increased 15.6 Percent. Company Confirms Earnings-Per-Share Outlook for 2007 and 2008. Abbott announced financial results for the third quarter ended September 30, 2007.
- Diluted earnings per share, excluding specified items, were $0.67, above Abbott's previously announced guidance range of $0.64 to $0.66. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.46.
- Based on its strong results year to date, Abbott is confirming its 2007 earnings-per-share outlook and raising the lower end of its previous guidance range. In addition, the company is confirming its outlook for an accelerating rate of earnings-per-share growth in 2008 compared to 2007.
- Worldwide sales increased 14.4 percent to $6.4 billion, including a favorable 2.8 percent effect of exchange rates.
- U.S. pharmaceutical sales increased 17.5 percent and International pharmaceutical sales increased 22.2 percent, driven by double-digit growth in HUMIRA®, Kaletra® and TriCor®, and included $167 million of Niaspan® sales. Based on the continued strong sales performance of HUMIRA, which contributed more than $800 million in worldwide sales in the third quarter, Abbott estimates 2007 global sales of $3 billion.
- Worldwide medical products sales increased 12.0 percent, driven by 13.8 percent growth in worldwide Diabetes Care sales, 14.9 percent growth worldwide in Abbott Vascular, and 14.4 percent growth in International diagnostics sales.
- Worldwide nutritional products sales were led by 15.6 percent growth in International nutritionals, with continued strong performance in key emerging growth markets.
- "Abbott's strong performance this quarter was again balanced across our major broad-based businesses," said Miles D. White, chairman and chief executive officer, Abbott. "We expect this momentum to continue in the fourth quarter and into 2008, when the strength of our diversity will drive an accelerating rate of earnings-per-share growth compared to 2007."
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 www.abbott.com.