Abbott Laboratories Reports Q2 2024 Sales Growth of 9.3%, Led by Medical Devices and Diabetes Sales

Abbott Laboratories (NYSE: ABT), a global healthcare giant based in the US, has reported its financial results for the second quarter of 2024, highlighting a 9.3% year-on-year (YOY) increase in sales, reaching USD 10.4 billion in constant currency terms.

The Medical Devices segment was the top performer, marking a 12.1% YOY growth to USD 4.7 billion in sales. This growth was driven by a robust 16% YOY increase in diabetes sales. The Diagnostics unit experienced a 1.5% YOY decline to USD 2.19 billion, reflecting the impact of COVID-19 on testing demand. The Nutrition unit reported a 7.5% YOY growth, reaching USD 2.15 billion, while Established Pharmaceuticals saw an 8.1% YOY increase, amounting to USD 1.29 billion.- Flcube.com

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