Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Acquisitions drive Philips Medical Systems' sales growth

This article was originally published in Clinica

Executive Summary

Including special charges, Abbott Laboratories' net earnings were $771m. The items include acquired in-process R&D relating to Biocompatibles' stent business, the alliance with Medtronic concerning stents, and issues relating to the consent decree with the FDA, dating from October 2000, concerning Abbott's Lake County diagnostics manufacturing site (see Clinica No 1011, p 14). In May, the FDA told the company that its facilities were still not in compliance with FDA-imposed quality systems regulations (see Clinica No 1008, p 15). Analysts at Morgan Stanley do not see a resolution of the situation before 2004. Abbott had worldwide diagnostic sales of $735m in the quarter, up 2%. US diagnostic sales were down by 1% to $295m. For the full year, the analysts see total diagnostics sales growth of only 1%, cue to the continuation of the consent decree. In the six months, the company's MediSense glucose monitoring products had sales of $101m, up 12%.

You may also be interested in...



QUOTED. 26 November 2020. Rachel Nuzum.

Policy experts predicted how the incoming Biden administration will handle health care issues at a recent Alliance for Health Policy webinar. Rachel Nuzum, VP of state and federal policy at The Commonwealth Fund, said telehealth could be a priority.

China Poised To Conditionally Approve First COVID Vaccine

The China National Biotec Group has filed the first application in China for the broad use of a COVID-19 vaccine, days after the national regulatory agency released review guidelines for the conditional approval of such products.

Novartis Faces Another Challenge To Entresto In India

More patent-related turbulence appears ahead for Novartis’s sacubitril/valsartan combination in India, with Torrent emerging as the new challenger. The companies are engaged in a legal battle and the Indian firm is also seeking a revocation of the patent on the star heart failure treatment.

Topics

UsernamePublicRestriction

Register

ID036688

Ask The Analyst

Ask the Analyst is free for subscribers.  Submit your question and one of our analysts will be in touch.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel