Diagnostics compliance issues reduce Abbott's margins
This article was originally published in Clinica
Executive Summary
The ongoing struggle at Abbott Diagnostics to bring US production facilities up to GMP standard led to a reduction in Abbott Laboratories' gross margin ratio in the first quarter of 2003. The compliance issues were also behind a 10% drop in US diagnostics sales to $270m, although this had been expected. Another reason for the declining sales was the discontinuation of two low-margin infection tests at the end of last year (see Clinica No 1042, p 11).
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