Abbott Laboratories

Abbott Laboratories 1Q

1Q Revenues: $7.7 billion (+15%)

1Q Earnings: $1.0 billion (-30%)

Comments: Worldwide pharma sales were $4.1 billion (+13%, with 4% of that coming from currency rates). Domestic pharma sales grew 12% to $1.7 billion. Nutritional sales were up 12% to $1.3 billion, diagnostics sales grew 12% to $915 million, and vascular sales were up 16% to $747 million. Pharma sales were driven by Humira, which grew 36% to $1.4 billion, including a 7% bump from currency rates. 1Q09 earnings were boosted by the favorable impact of a contingent liability; without it, earnings would have been flat in 1Q10.