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Abbott Laboratories

Strong pharma growth driven by Humira

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Abbott Laboratories 2Q10

2Q Revenues: $8.8 billion (+18%)

2Q Earnings: $1.3 billion (flat)

YTD Revenues: $16.6 billion (+16%)

YTD Earnings: $2.3 billion (-16%)

Comments: Pharma sales were $4.9 billion (+25%) in 2Q10, boosted by a favorable exchange rate and revenues from Solvay Pharmaceuticals. YTD pharma revenues were up 19% to $9.0 billion. Humira continued its meteoric rise, posting 22% growth in 2Q10 and 28% for YTD, to $1.6 billion and $3.0 billion, respectively. Kaletra revenues dropped 14% in 2Q10 to $294 million. Performance in 2Q10 of other divisions: Nutritional: $1.4 billion/+10%, Diagnostics: $948 million/+8%, Vascular: $835 million/+27%.

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