Abbott (NYSE: ABT) has announced financial results for the second quarter ended June 30, 2009.
Diluted earnings per share, excluding specified items, were $0.89, at the high end of Abbott's second-quarter guidance range of $0.87 to $0.89. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.83.
Worldwide operational sales, which excludes an unfavorable 8.0 percent effect of exchange rates, increased 10.5 percent. Reported sales, including the impact of exchange, increased 2.5 percent. Excluding the expected decline in Depakote sales due to generic competition, worldwide operational sales increased 14.6 percent.
Worldwide medical products operational sales, which excludes an unfavorable 9.5 percent effect of exchange rates, increased 27.0 percent. Worldwide operational vascular sales increased 43.0 percent driven by the continued success of the XIENCE V drug-eluting stent (DES).
Worldwide pharmaceutical operational sales, which excludes an unfavorable 8.3 percent effect of exchange rates, increased 4.0 percent. Excluding the impact of Depakote, worldwide pharmaceutical operational sales increased 11.4 percent. Worldwide HUMIRA operational sales increased 32.8 percent, which excludes an unfavorable 12.4 percent effect of exchange rates. U.S. HUMIRA sales were $635 million, up 20.9 percent.
Worldwide nutritional operational sales, which excludes an unfavorable 5.2 percent effect of exchange rates, increased 9.2 percent. U.S. nutritional sales increased 10.0 percent, driven by market share gains in the infant formula business.
Submitted CERTRIAD(TM), the fixed-dose combination of TRILIPIX and CRESTOR, for U.S. regulatory approval and received CE Mark for XIENCE PRIME(TM), both ahead of the company's forecast.
"We achieved our performance goals for the quarter, with results at the high end of our previous expectations," said Miles D. White, chairman and chief executive officer, Abbott. "Our diverse mix of market-leading products and global businesses delivered double-digit operational sales growth, with strong performance from our key growth drivers."
About Abbott Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs more than 72,000 people and markets its products in more than 130 countries.
Abbott's news releases and other information are available on the company's Web site at www.abbott.com.
Abbott will webcast its live second-quarter earnings conference call through its Investor Relations Web site at www.abbottinvestor.com.