Abbott Reports Third-Quarter 2013 Results

Abbott’s third-quarter 2013 results show that worldwide reported sales increased 2%, including an unfavorable 2.3% effect of foreign exchange, the company announced in a press release. A sales disruption in Abbott’s International Nutrition business, caused by a supplier recall in early August 2013 in certain international markets of pediatric nutrition products, is estimated to have reduced Abbott's total worldwide sales growth by nearly 2%. Abbott confirmed its full-year 2013 ongoing EPS guidance range of $1.98–2.04.

The company’s Established Pharmaceuticals business segment sales increased 0.6% in the third quarter on an operational basis and decreased 2.9% on a reported basis, including an unfavorable 3.5% effect of foreign exchange. In key emerging markets, reported sales decreased 3.4%, including an unfavorable 5.7% effect of foreign exchange. Abbott is focused on implementing tailored strategies to drive accelerated growth across its key emerging markets. While recent macroeconomic and market pressures in certain emerging markets resulted in somewhat slower sales growth this quarter, growth rates in emerging markets have and are expected to continue to outpace the overall global economy and remain attractive over the long term, the company said in the press release. Other markets include developed markets, such as Western Europe and Japan, and other emerging markets globally. Sales in these geographies decreased 0.9% in the quarter on an operational basis and 2.4% on a reported basis, including an unfavorable 1.5% effect of foreign exchange.

Source: Abbott