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Abbott Laboratories (ABT) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Abbott Laboratories

CIK: 1800 Ticker: ABT

Exhibit 99.1

 

News Release

 

Abbott Reports Third-Quarter 2019 Results

 

·Third-quarter sales growth of 5.5 percent; organic sales growth of 7.6 percent
·Exceptional growth across key platforms of FreeStyle Libre, MitraClip and Alinity
·Continues to strengthen portfolio with a steady cadence of new product approvals, reimbursement coverage and clinical data

 

ABBOTT PARK, Ill., Oct. 16, 2019 — Abbott today announced financial results for the third quarter ended Sept. 30, 2019.

 

·Third-quarter worldwide sales of $8.1 billion increased 5.5 percent on a reported basis and 7.6 percent on an organic* basis.
·Reported diluted EPS from continuing operations under GAAP was $0.53 in the third quarter. Adjusted diluted EPS from continuing operations, which excludes specified items, was $0.84, an increase of 12.0 percent versus prior year1.
·Abbott narrowed its full-year 2019 outlook for diluted EPS from continuing operations on a GAAP basis to $2.06 to $2.08, and full-year adjusted diluted EPS from continuing operations to $3.23 to $3.25, reflecting 12.5 percent growth versus the prior year at the midpoint of the range2.
·FreeStyle Libre® achieved worldwide sales of $496 million in the quarter, an increase of 63.1 percent on a reported basis and 67.6 percent on an organic basis versus the prior year.
·During the third quarter, FreeStyle Libre obtained public reimbursement coverage in Ontario and Quebec, becoming the first and only sensor-based glucose monitoring system to be listed by any provincial health plan in Canada.
·Worldwide sales of MitraClip® were $176 million in the quarter, an increase of 30.4 percent on a reported basis and 31.9 percent on an organic basis, including U.S. growth of 45.7 percent versus the prior year. During the third quarter, Abbott announced U.S. FDA approval of its next-generation MitraClip device, which offers enhancements and more sizes to offer doctors further options.
·In September, Abbott announced data from its COAPTTM Trial that shows that MitraClip is projected to increase life-expectancy and quality of life compared to guideline-directed medical therapy alone in heart failure patients with secondary mitral regurgitation, or a leaky mitral heart valve.
·During the third quarter, Abbott received U.S. FDA approval for its Alinity®-S diagnostics system, the latest technology for screening and protecting the U.S. blood and plasma supply.

 

“We’re performing exceptionally well across several areas,” said Miles D. White, chairman and chief executive officer, Abbott. “We’re right on track to achieve ongoing EPS and organic sales growth at the upper-end of our initial guidance ranges for the year.”

 

—more—

 

 

* See note on organic growth on the next page.

 


The following information was filed by Abbott Laboratories (ABT) on Wednesday, October 16, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Abbott Laboratories's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (Parenthetical)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Comprehensive Income
Condensed Consolidated Statement Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statement Of Earnings
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Condensed Consolidated Statement Of Shareholders' Investment (Parenthetical)
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Financial Instruments, Derivatives And Fair Value Measures (Tables)
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Financial Instruments, Derivatives And Fair Value Measures - Location Of Derivative Instruments (Details)
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Abbott Laboratories provided additional information to their SEC Filing as exhibits

Ticker: ABT
CIK: 1800
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-19-058323
Submitted to the SEC: Thu Oct 31 2019 12:02:42 PM EST
Accepted by the SEC: Thu Oct 31 2019
Period: Monday, September 30, 2019
Industry: Pharmaceutical Preparations

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