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Abbott Credits International Markets For Present, Future Growth

This article was originally published in The Tan Sheet

Executive Summary

International sales of Abbott's nutritional products increased 15.6 percent to $515 million in its latest quarter as a result of "focused promotional efforts and sales force activities," the firm said Oct. 17

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Sales & Earnings In Brief

Abbott takes global view: Abbott Laboratories expects tighter spending on consumer products to affect its U.S. nutritional business more than international sales, which were a key driver in the firm's latest earnings period. "I think any concern of economic slowdown is a little more U.S.-focused," Chief Financial Officer Thomas Freyman says Oct. 15 during Abbott's third-quarter earnings call. Consumers see both pediatric and adult nutritional products "as more core to their essential as opposed to discretionary-type items," he adds. The Abbott Park, Ill.-based firm's international nutritional sales increased 22.2 percent to $629 million, but 5.5 percent of the growth was from the positive impact of currency exchange, according to a same-day release. Worldwide nutritional sales grew 14.5 percent to $1.26 billion, with U.S. sales up 7.8 percent to $633 million. The company says pediatric products accounted for $668 million of the nutritional total, a 10.8 percent increase, and adult products reached $584 million, up 19.1 percent. Abbott expects to start manufacturing nutritionals at a Singapore facility in early 2009 (1"The Tan Sheet" Oct. 22, 2007, p. 9). "It will be a much more convenient way to supply the Asian market, which currently we're supplying out of our European facilities," Investor Relations VP John Thomas says

Similac, Pediasure Drive Abbott’s Ross Sales In 2007

Similac, PediaSure and the launch of NutriPals bars and shakes drove sales by Abbott Laboratories' Ross U.S. Nutritionals unit up 3 percent to $624 million in its fourth quarter, according to Abbott President and COO Rick Gonzalez

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