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Financial Report: Abbott 2Q

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Abbott

2Q Revenues: $7.3 billion (+15%)

2Q Earnings: $1.3 billion (+34%)

YTD Revenues: $14.1 billion (+14%)

YTD Earnings: $2.3 billion (+34%)

Comments: Worldwide pharmaceutical sales increased 17% percent in the quarter to $4.1 billion, driven by Humira, Niaspan and Kaletra. Humira sales were $1.1 billion in the quarter (+48%), Niaspan sales were $194 million  (+14%) and Kaletra sales were $355 million (+13%). R&D expenses grew 13% to $657 million in the quarter. Pharmaceutical sales were $8.0 billion for the first half of the year (+16%). Humira sales reached nearly $2.0 billion in 1H08 (+51%).

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