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Home » DESPITE SHORT-TERM COSTS, GUIDANT ACQUISITION SEEN AS BOON TO ABBOTT
DESPITE SHORT-TERM COSTS, GUIDANT ACQUISITION SEEN AS BOON TO ABBOTT
July 20, 2006
Analysts are projecting a sunny outlook for Abbott Laboratories based on 2006 second-quarter results -- despite some company challenges.
The firm reported "a 30 percent decline in second-quarter profit," mainly because of costs associated with its acquisition of Guidant's vascular unit, said stock market website www.SeekingAlpha.com (http://www.SeekingAlpha.com) Editor Jonathan Liss. But the company's medical-product unit posted an 18 percent gain in sales, also partly because of the Guidant acquisition, Liss said.
"The recently acquired Guidant Vascular business appears to be making a mark already, with total Vascular unit sales of $259 million, about $64 million above our projection," said RBS Markets analyst Phil Nalbone.
KEYWORDS FDAnews Device Daily Bulletin
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