Abbott Laboratories (NYSE: ABT), a U.S.-based healthcare giant, has reported its financial results for the third quarter of 2024, highlighting a robust 9.4% year-on-year sales growth in constant currency terms, reaching USD 10.64 billion.
The Established Pharmaceuticals segment recorded a 2.7% rise in Q3 to USD 1.406 billion, with emerging markets contributing significantly with a growth of 0.7%. Sales in digestive health, cardiovascular metabolism, and central nervous system/pain management medications were key drivers of this global sales expansion.
The Medical Devices unit emerged as a standout, with an 11.7% year-on-year increase in sales to USD 4.75 billion. Diabetes sales saw a particularly strong surge at 17.1%. Other areas such as structural heart disease, heart failure, and electrophysiological services also reported double-digit growth rates of 14.6%, 14.0%, and 12.2%, respectively.
Diagnostics sales experienced a 1.5% year-on-year decline to USD 2.41 billion, a result of reduced sales in COVID-19 testing products. Excluding these products, the Diagnostics segment would have shown a modest 0.2% increase year-on-year.
Despite a 0.3% year-on-year dip in Nutrition sales to USD 2.07 billion, the balanced nutrition product Ensure was a bright spot, propelling the global sales of the adult nutrition business to a 3.6% growth.- Flcube.com
