Abbott posts Q3 double-digit gains

TriMed Staff | | Health Imaging | Cardiac Imaging
 
Abbott Laboratories reported a 51 percent rise in third-quarter profit, citing double-digit sales increases for its pharmaceutical, medical device and nutritional product lines.

Earnings rose to $1.08 billion for the period, a steep uptick from $717 million posted in its fiscal third quarter last year. Sales rose almost 18 percent to $7.5 billion

The biggest sales drivers were Humira, an arthritis drug whose quarterly sales jumped 50 percent to $1.2 billion, and the Xience drug-coated stent that was launched in the United States during the quarter.

Total company stent sales more than doubled to $383 million.

Abbott Vascular achieved record sales of $636 million, driven by drug-eluting stent (DES) franchise sales of $305 million, which more than doubled sequentially from the second quarter, exceeding the company's previous guidance.

In light of the strong results, the firm has raised its guidance for the 2008 fiscal year to $3.31 - $3.33 per share (U.S.) from $3.24 - $3.28. Abbott's original guidance range for 2008, provided in January, was $3.20 - $3.25 per share.

TriMed Staff

Related Content

Global shortage of nuclear imaging isotopes may be over
‘A huge win’: CMS significantly increases Medicare payments for cardiac CT
FDA clears AI tool that flags signs of heart disease in chest CT scans
AI-enabled plaque assessments help cardiologists ID high-risk CAD patients
Abbott CGM sensors can now be worn during common imaging procedures
New data highlight long-term benefits of HeartFlow’s AI-based CAD evaluations

Around the web

Cardiovascular Business
Global shortage of nuclear imaging isotopes may be over

The nuclear imaging isotope shortage of molybdenum-99 may be over now that the sidelined reactor is restarting. ASNC's president says PET and new SPECT technologies helped cardiac imaging labs better weather the storm.

Cardiovascular Business
‘A huge win’: CMS significantly increases Medicare payments for cardiac CT

CMS has more than doubled the CCTA payment rate from $175 to $357.13. The move, expected to have a significant impact on the utilization of cardiac CT, received immediate praise from imaging specialists.

Cardiovascular Business
FDA clears AI tool that flags signs of heart disease in chest CT scans

The newly cleared offering, AutoChamber, was designed with opportunistic screening in mind. It can evaluate many different kinds of CT images, including those originally gathered to screen patients for lung cancer. 

Design by Adaptive Theme
Trimed Popup
Trimed Popup