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Financial Report: Abbott

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Abbott

1Q Revenues: $5.3 billion (15.5%)

1Q Earnings: $697.5 million (-19%)

Comments: Worldwide pharmaceutical sales were $3.4 billion, up 16.6%. Humira grew to $289 million in sales, up $32.4. Earnings in the quarter excludes after-tax charges of $57 million for acquisition integration, $75 million related to fair value adjustments of Abbott’s investment in Boston Scientific, and $55 million for cost reduction initiatives.

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