Humira and Nutrition Sales Lift Abbott 3Q profit
Wed, 10/14/2009 - 4:38am
ABBOTT PARK, Ill. (AP) — Abbott Laboratories says it beat its own expectations in the third quarter as sales of its drug Humira continued to climb, as did sales of medical products and nutritional products for children. The North Chicago company says strong sales of Humira, an injection for inflammatory disease, made up for weaker sales of other drugs. Nutritional sales grew 10 percent to $1.39 billion. Profit rose 16 percent, to $1.43 billion, or 92 cents per share, from $1.24 billion, or 79 cents per share. Excluding one-time costs, Abbott earned 95 cents per share. Revenue grew 4 percent, to $7.76 billion from $7.5 billion. Analysts expected 90 cents per share and $7.76 billion in revenue. The company raised its expectations for the year.