The U.S. pharmaceutical company Abbott Laboratories experienced a decline in sales in the third quarter of 2012, accounted for due to the dollar strength and a downward trend in the business of its top drug for arthritis (Humira).
The company’s sales declined slightly by 0.4 percent to $9.8 billion. Excluding the negative impact of the stronger U.S. currency, sales would have risen 4.1 percent for the drug Humira. Abbott increased its revenues by more than ten percent to $2.3 billion – in the second quarter the increase was still 17 percent.
For the full fiscal year, Abbott saw sales of prescription drugs rise 2.4 percent to $4.4 billion. In the food division, revenues rose 4.5 percent to $1.6 billion.
Abbott’s profit could within a year rose more than six-fold to $1.94 billion, where a year ago high recurring costs of $1.4 billion had reduced the interim results. Before exceptional costs, Abbott earned $1.30 per share, two cents more than expected by analysts.
Early next year, the split of the company into AbbVie (drug store) and Abbott (nutrition division and diagnostics area) will be performed.
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