Summary Box: Abbott Labs tops 1Q expectations

AP News
Posted: Apr 20, 2011 1:53 PM

EARNINGS BEAT: Drug and medical device maker Abbott Laboratories reported better-than-expected earnings Wednesday led by double-digit sales growth of drugs, nutritionals and other products.

EMERGING GROWTH: The company reported a 38 percent growth in sales of products in emerging markets like China, India and Russia. Sales of generic pharmaceuticals increased more than 117 percent.

PHARMA FIRST: While Abbott sells a broad range of medical and nutritional products, revenue was led by pharmaceuticals, particularly its best-selling product Humira, which posted $1.65 billion in sales. The drug treats inflammatory diseases like rheumatoid arthritis and Crohn's disease.