financial results

The Life Sciences business grew 10 percent year over year, while the Diagnostics business inched up 1 percent.

Within the diagnostics business, Abbott's core laboratory sales grew 4 percent but its other diagnostic segments were down year over year.

Decreased sales in the firm's centralized and point-of-care business and diabetes care business were partially offset by strong growth in the molecular diagnostics business.

The firm expects to offer nearly 5 million shares and also noted that this week it entered into an amended credit facility.

The company said the decrease was partially due to the impact on its clinical services business unit from the adoption of new revenues recognition standards.

For 2019, the firm's total revenues from commercial operations, licensing, and collaborations are expected to grow to more than €3 million.

The company said its higher revenues were due in part to international performance including continued penetration of Middle Eastern and Asian markets.

Canaccord said Meridian Bioscience's preannounced second quarter top-line miss and expected ongoing weakness in its MDx business were among the reasons for the downgrade.

The company recorded its first product sales in 2018 as it received CE-IVD marking of diagnostic tests for Zika and other infectious diseases.

After generating compelling data from internal validation studies, the company expects to launch its flagship lung cancer test in the second half of the year.