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

Abbott Laboratories

CIK: 1800 Ticker: ABT

Exhibit 99.1

 

 

News Release

 

Abbott Reports Second-Quarter 2019 Results

 

·                 Accelerated and sustainable growth driven by strong performance across portfolio

·                 Raising full-year guidance for organic sales growth to 7 to 8 percent

·                 Double-digit EPS growth exceeded expectations; raising full-year forecast

·                 Long-term growth drivers — FreeStyle Libre, MitraClip and Alinity — achieving exceptional growth

 

ABBOTT PARK, Ill., July 17, 2019 — Abbott today announced financial results for the second quarter ended June 30, 2019.

 

·                  Second-quarter worldwide sales of $8.0 billion increased 2.7 percent on a reported basis and 7.5 percent on an organic* basis.

·                  Reported diluted EPS from continuing operations under GAAP was $0.56 in the second quarter.

·                  Adjusted diluted EPS from continuing operations, which excludes specified items, was $0.82, above the previous guidance range.

·                  Abbott is raising its full-year 2019 outlook. Abbott projects organic sales growth of 7.0 to 8.0 percent1, diluted EPS from continuing operations on a GAAP basis of $2.06 to $2.12, and full-year adjusted diluted EPS from continuing operations of $3.21 to $3.27, reflecting double-digit growth.

·                  FreeStyle® Libre®, Abbott’s revolutionary continuous glucose monitoring system, achieved worldwide sales of $433 million in the quarter, an increase of 63.9 percent on a reported basis and 72.9 percent on an organic basis versus the prior year. In the U.S., FreeStyle Libre is now reimbursed for approximately 75 percent of people with private pharmacy benefit insurance.

·                  Worldwide sales of MitraClip® were $169 million in the quarter, an increase of 26.7 percent on a reported basis and 30.6 percent on an organic basis versus the prior year, including U.S. growth of 56.1 percent. Earlier this week, Abbott announced U.S. FDA approval of its next-generation MitraClip device, which offers enhancements and more sizes to offer doctors further options.

·                  In July, 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. Alinity-S is designed to provide faster and more efficient results within a smaller space versus commercially available competitive systems, while maintaining the highest levels of accuracy.

 

“Our sales growth accelerated and is sustainable,” said Miles D. White, chairman and chief executive officer, Abbott. “We have great momentum and are raising our guidance above the strong outlook we previously set for the year.”

 

—more—

 


The following information was filed by Abbott Laboratories (ABT) on Wednesday, July 17, 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
Condensed Consolidated Statement Of Shareholders' Investment
Condensed Consolidated Statement Of Shareholders' Investment (Parenthetical)
Basis Of Presentation
Changes In Accumulated Other Comprehensive Income (Loss)
Changes In Accumulated Other Comprehensive Income (Loss) (Details)
Changes In Accumulated Other Comprehensive Income (Loss) (Tables)
Debt And Lines Of Credit
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Financial Instruments, Derivatives And Fair Value Measures (Tables)
Financial Instruments, Derivatives And Fair Value Measures - Bases Of Measurement (Details)
Financial Instruments, Derivatives And Fair Value Measures - Carrying Value And Fair Value (Details)
Financial Instruments, Derivatives And Fair Value Measures - Contracts (Details)
Financial Instruments, Derivatives And Fair Value Measures - Gain Or Loss (Details)
Financial Instruments, Derivatives And Fair Value Measures - Location Of Derivative Instruments (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets - Goodwill (Details)
Goodwill And Intangible Assets - Intangible Assets (Details)
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Incentive Stock Programs (Tables)
Incentive Stock Programs - General (Details)
Incentive Stock Programs - Options Activity (Details)
Lease - Lessor Lease Description (Details)
Leases
Leases (Tables)
Leases - Amounts And Location Of Operating Lease Rou Assets And Lease Liabilities (Details)
Leases - Future Minimum Lease Payments (Details)
Leases - Operating Leases As Lessee (Details)
Litigation And Environmental Matters
Litigation And Environmental Matters (Details)
New Accounting Standards
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Segment Information
Segment Information (Details)
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Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Cash Flows (Details)
Supplemental Financial Information - General (Details)
Supplemental Financial Information - Income Statement (Details)
Supplemental Financial Information - Investments (Details)
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Taxes On Earnings (Details)

Material Contracts, Statements, Certifications & more

Abbott Laboratories provided additional information to their SEC Filing as exhibits

Ticker: ABT
CIK: 1800
Form Type: 10-Q Quarterly Report
Accession Number: 0001410578-19-000606
Submitted to the SEC: Wed Jul 31 2019 12:15:28 PM EST
Accepted by the SEC: Wed Jul 31 2019
Period: Sunday, June 30, 2019
Industry: Pharmaceutical Preparations

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