Abbott posts slight Q2 gains, bolstered by 9% increase in stent sales

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon
Abbott has reported double-digit net sales in the 2010 second quarter, which ended June 30, but only saw net earnings of 0.3 percent over the 2009 second quarter.

The net earnings for the 2010 second quarter were $1.292 billion, compared with $1.288 billion in the 2009 second quarter—representing a 0.3 percent increase, according to the Abbott Park, Ill.-based company.

Worldwide sales increased 17.8 percent to $8.8 billion in the second quarter of 2010, compared with the previous year’s second quarter, Abbott reported. Likewise, its worldwide pharmaceutical sales increased 24.5 percent, which the company attributed to growth from the Solvay Pharmaceuticals acquisition.

Worldwide vascular products sales increased 26.9 percent in the 2010 second quarter, driven by strong international growth, Abbott said. Specifically, its coronary stent unit sales increased 9 percent over last year’s second quarter, totaling sales of $279 million in the 2010 second quarter.

Abbott reported that its diabetes care unit dropped 0.4 percent to $127 million in the 2010 second quarter over the comparable quarter in the 2009 fiscal year.

For its cardiac-related pharmaceutical sales, cholesterol-lowering drug fenofribrate (TriCor/TrilLpix) sales slipped 5.3 percent to $318 million in the 2010 second quarter. The company also reported that its other cholesterol-lowering drug niacin (Niaspan) rose 1.6 percent to $211 million in this year’s fiscal second quarter.