53% jump in 1st-qtr profit for Abbott

Abbott Laboratories' first-quarter profit jumped 53%, compared to the same period of last year, as sales of Humira (adalimumab) rocketed.

The US health care major's net income increased to $1.44 billion, or  $0.92 per share, versus $940.0 million, or $0.60 per share. R&D expenses  were $650.0 million, up 5%.

Turnover dipped 1% to $6.72 billion, comprising US sales of $3.0  billion, down 1%, and international revenue of $3.72 billion, which fell  only slightly. Pharmaceutical turnover declined 6% to $3.64 billion,  with a 13% drop in US drug sales to $1.53 billion, with a 0.3% rise from  the rest of the world to $2.11 billion. Diagnostics sales fell 2% to  $816.0 million, nutritionals were up 6% to $1.18 billion and vascular  products jumped 43% to $645.0 million.