Abbott Posts Good Performance In 1994
Worldwide sales at Abbott Pharmaceuticals in 1994 amounted to $9.1 billion, up 8.9% For the fourth quarter they were $2.5 billion, 11.4% higher. Net income for the year was $1.5 billion, up 8.4%, and earnings per share were $1.87, increasing 10.7%. Fourth-quarter net income was $442.5 million, ahead 8%, and EPS was $0.53, up 10.4%.
Sales of pharmaceuticals and nutritional products in 1994 grew 12.8% to $5 billion. Hospital and laboratory products sales were $5.7 billion, ahead of 1993 levels 7.6%. Duane Burnham, chairman and chief executive said that there had been "especially good growth in global pharmaceuticals and the international segments of our other businesses." Pharmaceutical sales were led by Biaxin (clarithromycin) and Hytrin (terazosin HCl).
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