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Financial Report: Abbott

Debt resolution impacts earnings

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Abbott
 
4Q Revenues: $10.8 billion (+4%)

4Q Earnings: $1.1 billion (-35%)

YTD Revenues: $39.9 million (+3%)

YTD Earnings: $6.0 billion (+26%)

Comments: Proprietary Pharmaceutical sales were $5.1 billion in the quarter, up 7%. Established Pharmaceutical sales were $1.3 billion, down 2%. Humira sales were $2.7 billion in the quarter, up 15%. AndroGel sales were up 10% to $373 million. TRILIPIX/TriCor sales were down 5% to $269 million. Kaletra sales were down 11% to $250 million. Lupron sales were down 18% to $211 million. Nutritionals revenue was $1.7 billion, up 11%. Earnings in the quarter include a loss on extinguishment of debt. This was the final quarter/FY in which Abbott will record Proprietary Pharmaceutical sales, as the company spun that business off as AbbVie at the beginning of 1Q13.

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