Ross Products Sales Total $460 Mil. In Second Quarter, $971 Mil. For Half
This article was originally published in The Tan Sheet
Executive Summary
Abbott Labs' Ross Products Division sales rose 2.1% to $460 mil. in the second quarter, the company announced July 9. In the first half, Ross sales increased 6.5% to $971 mil.
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Abbott Labs' Ross Products Division sales rose 2.1% to $460 mil. in the second quarter, the company announced July 9. In the first half, Ross sales increased 6.5% to $971 mil. Ross Products sales accounted for approximately 15% of Abbott's $3.24 bil. in consolidated sales for the quarter and $6.54 bil. in first half sales. Consolidated sales were up 5.8% and 7% in the three- and six-month periods, respectively. Abbott net earnings climbed 9.8% to $642 mil. in the quarter and 11.4% to $1.31 bil. in the half. Ross Products launched an Ensure line extension during the quarter - Ensure High Calcium targeted to women 50 and older. The product contains more calcium than regular Ensure as well as other nutrients designed to help maintain bone health (1 (Also see "Ross Products Adding Ensure High Calcium For Women 50+" - Pink Sheet, 24 May, 1999.)). Ensure Balanced Breakfast also is listed as a "new" product on the Ross Web site, www.ross.com. The powder, when mixed with milk, offers 24 essential vitamins and minerals including vitamin C and calcium. The Abbott Labs division also introduced its Health Source soy protein powder, meant to "promote healthy cholesterol levels," to retail July 1 (2 (Also see "Ross Products" - Pink Sheet, 21 Jun, 1999.)). The product was previously available through direct mail as Take Care and comes in vanilla, chocolate, strawberry and unflavored varieties. It contains Protein Technologies' Supro XG isolated soy protein. Abbott separately announced several executive changes. William Dempsey is the new senior VP, international operations, succeeding Josef Wendler, who was seriously injured by a car while bicycling and is incapacitated "indefinitely," the firm said. Dempsey most recently was senior VP, chemical and agricultural products. Succeeding Dempsey as senior VP, chemical and agricultural products is Christopher Begley, formerly VP, Abbott HealthSystems. Elaine Leavenworth, a former divisional VP, licensing and new business development, fills the slot vacated by Begley. |