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news.Abbott has reported a net sales of $7.69bn for the first quarter ended March 31, 2010, an increase of 14.6%, compared to $6.72bn for the comparable period in 2009.
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Abbott has posted a net income of $1bn for the first quarter 2010, or $0.64 per diluted share, a decrease of 30.3%, compared to $1.43bn, or $0.92 per diluted share, for the prior year period. Operating income was $1.47bn, compared to $1.06bn for the year ago period.
Abbott forecasts specified items for the full-year 2010 of approximately $0.34 per share, primarily associated with health care reform impact on deferred tax assets, previously announced acquisitions, previously announced cost reduction initiatives, and the one-time impact of the devaluation of the Venezuelan bolivar on balance sheet translation.
Miles White, chairman and CEO of Abbott, said: “We delivered double-digit sales growth across each of our worldwide businesses in the first quarter, reflecting our balance, diversity and strength.
“We also enhanced our emerging markets presence and pharmaceutical pipeline with the closing of the Solvay Pharmaceuticals acquisition and the announced acquisition of Facet Biotech, augmenting Abbott’s long-term growth outlook.”