Strong knees and hips give leg-up to top-line for ortho companies
This article was originally published in Clinica
Executive Summary
Abbott Labs' medical products division grew 14% in the first quarter of 2008, driven by sales of its diagnostic products, which increased 17% to $832m. Point-of-care and molecular diagnostics performed particularly strongly, growing 22% and 21%, respectively. Vascular sales, up 8% at $452m, were held back by a decline in the percutaneous coronary intervention market, resulting in lower third-party catheter sales. On the coronary stent side, sales increase 18% to $189m. Abbott said it still expects its Xience V drug-eluting stent (DES), already available internationally, to receive FDA approval in the second quarter of 2008.