Fri. Nov 15th, 2019

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ABT: Abbott (NYSE: ABT)

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Abbott (NYSE: ABT) recently stated fiscal results for the 3rd-quarter finished Sept. 30, 2k19.

  • Third-quarter worldwide sales of $8.10B raised 5.50 per cent on a stated basis and 7.60 per cent on an organic* basis.
  • Stated diluted EPS from continuing operations under GAAP was $0.530 in the 3rd-quarter. Adjusted diluted EPS from continuing operations, which excludes specified items, was $0.840, a boost of 12.00 per cent as compared to the previous year1.
  • Abbott narrowed its full-year 2k19 outlook for diluted EPS from continuing operations on a GAAP basis to $2.060 to $2.080, and full-year adjusted diluted EPS from continuing operations to $3.230 to $3.250, reflecting 12.50 per cent growth as compared to the prior year at the midpoint of the range2.
  • FreeStyle Libre® achieved worldwide sales of $496.00M in the quarter, a boost of 63.10 per cent on a stated basis and 67.60 per cent on an organic basis as compared to the previous year.
  • During the 3rd-quarter, FreeStyle Libre obtained public reimbursement coverage in Ontario and Quebec, becoming the 1st-and only sensor-based glucose monitoring system to be listed by any provincial health plan in Canada.
  • Worldwide sales of MitraClip® were $176.00M in the quarter, a boost of 30.40 per cent on a stated basis and 31.90 per cent on an organic basis, counting U.S. growth of 45.70 per cent as compared to the previous year. During the 3rd-quarter, Abbott declared U.S. FDA approval of its next-generation MitraClip device, which offers enhancements and more sizes to offer doctors further options.

Worldwide Diagnostics sales raised 4.70 per cent on a stated basis in the 3rd-quarter, counting an unfavourable 1.90 per cent effect of foreign exchange, and raised 6.60 per cent on an organic basis.

Core Laboratory Diagnostics sales raised 8.30 per cent on a stated basis and 10.60 per cent on an organic basis in the 3rd-quarter. Sales performance was led by above-market growth in the U.S. and internationally, where Abbott is achieving continued strong adoption of its Alinity family of innovative and highly differentiated diagnostic instruments. During the 3rd-quarter, Abbott received U.S. FDA approval for its Alinity-S blood and plasma screening diagnostics instrument and several testing assays.

Molecular Diagnostics sales reduced 7.80 per cent on a stated basis in the 3rd-quarter, counting an unfavourable 1.40 per cent effect of foreign exchange, and reduced 6.40 per cent on an organic basis. Internationally, sales growth in the quarter was negatively influenced by lower non-governmental organization purchases in Africa.

Point of Care Diagnostics sales raised 6.30 per cent on a stated basis in the 3rd-quarter, counting an unfavourable 0.40 per cent effect of foreign exchange, and raised 6.70 per cent on an organic basis. Sales growth was led by Abbott’s market-leading i-STAT® handheld system in the U.S. and internationally.

Rapid Diagnostics sales reduced 0.70 per cent on a stated basis in the 3rd-quarter, counting an unfavourable 1.50 per cent effect of foreign exchange, and raised 0.80 per cent on an organic basis. Organic sales growth was led by infectious disease testing in developed markets and cardio-metabolic testing globally, partially offset by lower than expected infectious disease testing sales in Africa.

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