Weaker US Dollar And Volume Growth Lift 1st Qtr

A variety of factors have served as influences on the performance of US pharmaceutical companies during the first quarter of 1995. There has been strong volume growth, and sales of products outside the USA have benefited from the weaker US dollar. In some cases, pricing pressures have offset these positive factors.

Abbott Laboratories experienced strong sales growth in the first quarter of 1995 "continuing a trend from fourth- quarter 1994, we saw excellent growth in worldwide pharmaceuticals and in the international segment of our nutritionals business," said Duane Burnham, chairman and chief executive of Abbott. Worldwide sales of pharmaceutical and nutritional products were $1.5 billion, up 20.5%. Domestic sales of these products accounted for $979 million, and international sales, including direct exports from the USA, amounted to $496 million. Worldwide sales of Abbott's hospital and laboratory products were just over $1 billion in the first quarter.

Total sales achieved outside the USA were $970 million, up 20.3%. These were boosted 4.9% as a result of the relatively weaker US dollar, said the company. R&D expenses in the first quarter amounted to $247 million, up 9% on the like, year-earlier period.