Recent Product Launches Drive Growth For Abbott Laboratories In Q2’16

+12.89%
Upside
112
Market
127
Trefis
ABT: Abbott Laboratories logo
ABT
Abbott Laboratories

Leading healthcare major, Abbott Laboratories (NYSE:ABT) reported its Q2 2016 earnings on July 20, 2016. The company’s sales for the quarter grew by 6.4% excluding the unfavorable impact of 3.2% due to foreign currency headwinds. The foreign currency effects were higher than the company’s prior expectations, as the U.S. dollar strengthened relative to other currencies in the quarter due to Brexit.

Nevertheless, Abbott’s operational growth was better as compared to its growth in the last few quarters. The company’s vascular business saw encouraging growth driven by the strong adoption of Mitraclip for the treatment of mitral regurgitation. Also, Abbott got FDA approval of its fully dissolving heart stent (Absorb) in Q2, which is likely to drive its vascular market share higher in the coming quarters. The company’s Freestyle Libre device to monitor glucose was also seeing strong adoption internationally. Going ahead, Abbott stands a chance to increase its market share broadly across all the segments, driven by new product approvals. Furthermore, Abbott remains confident that it will complete the St. Jude acquisition by the year end, which is likely to further strengthen its vascular portfolio.

Below we analyse the key metrics as reported by Abbott in Q2 2016:

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