Abbott reports healthy Q2 results

Abbott Laboratories has reported better-than-expected financial results for the second quarter of 2013, with a reported sales increase of 2.5%. These positive results were largely due to a strong demand in Nutrition, as 24 new products were launched in the second quarter attributing to an operational sales growth of 8.4%.

The Medical Device business was also healthier in the second quarter, after Abbott announced two acquisitions in this area on July 15th: IDEV Technologies, which expands Abbott's endovascular portfolio, and OptiMedica, which provides an immediate entry point into the laser cataract surgery market.

Other highlights include the first FDA-approved hepatitis C virus (HCV) genotyping test, the approval of XIENCE Xpedition in Japan and the US approval and launch of the TECNIS Toric 1-Piece Intraocular Lens (IOL) for cataract patients with astigmatism.

Abbott also continued to expand its presence in emerging markets, with increased sales of 13.4% at a total of US $2.3 billion.

"All things considered, including headwinds from foreign exchange and a mixed global economy, this was a good quarter,"

Miles D. White, chairman and chief executive officer, Abbott.

Abbott confirmed that its full-year profit forecast remains unchanged at $1.98 to $2.04 per share.