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Abbott Laboratories (ABT) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2008

Abbott Laboratories

CIK: 1800 Ticker: ABT

Exhibit 99.1

 

Abbott Reports Double-Digit Sales and Earnings Growth in
Fourth Quarter; Confirms Strong Outlook for 2009 Earnings

 

 

 

 

 

 

Worldwide Sales Increased 10.1 Percent

 

– Adjusted EPS Growth of 14.0 Percent (GAAP EPS up 27.3 Percent)

 

Delivers Double-Digit Sales Growth in Each Major Global Business in 2008

 

Concludes Successful 2008 with Nine New Major Regulatory Approvals

 

Confirms Double-Digit Earnings-Per-Share Growth in 2009

 

 

 

 

 

 

ABBOTT PARK, III., Jan. 21, 2009 — Abbott today announced financial results for the fourth quarter

Financial:

ended Dec. 31, 2008.

John Thomas

 

 

 

(847) 938-2655

 

Larry Peepo

·

Diluted earnings per share, excluding specified items, were $1.06, reflecting 14.0 percent growth, in line with Abbott’s previous forecast. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.98, up 27.3 percent.

(847) 935-6722

 

 

 

·

Worldwide sales increased 10.1 percent to $8 billion, including an unfavorable 2.5 percent effect of exchange rates. Full-year 2008 sales were nearly $30 billion.

Tina Ventura

 

(847) 935-9390

 

 

 

·

Worldwide pharmaceutical sales increased nearly 10 percent driven by double-digit growth in HUMIRA®, Niaspan®, and the TriCor®/TRILIPIX franchise. Global HUMIRA sales in the quarter

exceeded $1.3 billion; full-year 2008 global HUMIRA sales were more than $4.5 billion.

Media:

 

Melissa Brotz

 

(847) 935-3456

 

 

 

·

Worldwide medical products sales increased 15.6 percent; with 58.9 percent growth in global vascular sales driven by the continued success of the XIENCE V drug-eluting stent (DES), which became the market-leading DES in the U.S. during the fourth quarter. Last week, Abbott announced the acquisition of Advanced Medical Optics (AMO), strengthening and expanding Abbott’s medical

device business with a global market leader in ophthalmology.

Scott Stoffel

 

(847) 936-9502

 

 

 

 

 

 

 

 

 

·

Global nutritional sales increased 11.0 percent, up more than 15 percent internationally and nearly 7

percent in the U.S.

 

 

 

 

 

 

·

Abbott is confirming previously issued earnings-per-share guidance for the full-year 2009 of $3.65 to $3.70 under both Generally Accepted Accounting Principles (GAAP) and on a non-GAAP basis. The midpoint of this 2009 guidance range reflects double-digit growth over 2008 earnings per share.

 

 

 

 

“2008 was another highly productive and successful year for Abbott, said Miles D. White, chairman and chief executive officer, Abbott. “We significantly outperformed our original growth expectations for the year and added to our diverse portfolio with a significant number of major new product launches. The strategic actions we’ve taken and our ongoing business momentum position Abbott to deliver continued double-digit growth in 2009.

 


The following information was filed by Abbott Laboratories (ABT) on Wednesday, January 21, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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