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Financial Report: Abbott

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Abbott

3Q Revenues: $5.6 billion (+3.5%)

3Q Earnings: $715.8 million (+5%)

YTD Revenues: $16.3 billion (flat)

YTD Earnings: $2.2 billion (-8.5%)

Comments: Adjusting for the Boehringer Ingelheim (BI) distribution amendment, U.S. pharmaceutical sales increased nearly 17%, driven by Humira, Omnicef, Depakote, Kaletra and TriCor.* Global Humira sales were $541 million, up 52%, with U.S. sales up 43% and international sales up 66%. Results for the quarter include acquired in-process R&D of $214 million related to the Guidant vascular acquisition.

*In August 2005, Abbott amended its co-promotion and distribution agreement for the three BI products: Mobic, Flomax and Micardis. As of Jan. 1, 2006, Abbott no longer distributes these products and no longer records sales for distribution activities.

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