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Abbott sales grow in Q4
Source: Shanghai Daily |
February 1, 2011, Tuesday
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ABBOTT said yesterday its worldwide sales increased 13.4 percent to nearly US$10 billion, despite an unfavorable 0.4 percent effect of foreign exchange rates.
Growth in the quarter was driven by worldwide pharmaceutical sales, which increased 22.5 percent, including the contribution from the Solvay and Piramal acquisitions, as well as worldwide vascular products sales, which increased 13.7 percent.
Abbott Nutrition products sales growth was flat. Growth in the United States during the quarter was negatively impacted by the infant nutritition recall that was announced in September. The company said the production resumed in October and it is recapturing market share.
A driver behind Abbott Nutrition International for many years, Thomas Chen retired from his post as Senior Vice President in the quarter. The Taiwanese is the first Asian that entered into Abbott's corporate decision team in its 118-year long history when he was granted the post to head Nutrition International in 2006 and tripled the business revenue in the following years.
Growth in the quarter was driven by worldwide pharmaceutical sales, which increased 22.5 percent, including the contribution from the Solvay and Piramal acquisitions, as well as worldwide vascular products sales, which increased 13.7 percent.
Abbott Nutrition products sales growth was flat. Growth in the United States during the quarter was negatively impacted by the infant nutritition recall that was announced in September. The company said the production resumed in October and it is recapturing market share.
A driver behind Abbott Nutrition International for many years, Thomas Chen retired from his post as Senior Vice President in the quarter. The Taiwanese is the first Asian that entered into Abbott's corporate decision team in its 118-year long history when he was granted the post to head Nutrition International in 2006 and tripled the business revenue in the following years.
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