Abbott reports 35% rise in earnings
Chicago, USA-based health care major Abbott Laboratories experienced a jump in sales driven by the success of its Humira (adalimumab), a treatment primarily for rheumatoid arthritus.
Global earnings for the quarter ending March 31, 2008, were $937.9 million ($0.60 per share) versus $697.5 million ($ 0.45 per share), a 35% increase. Revenue was up 14% to $6.77 billion vs $5.95 billion in the first quarter last year. Thomson Financial analysts had only predicted a revenue figure of $6.53 billion for the quarter.
These high figures are attributed to increasing sales of the firm's drug Humira, which is now indicated for psoriasis as well as junior rheumatoid arthritis.
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