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Abbott's MDx Sales Rise 11 Percent in Q4

NEW YORK (GenomeWeb News) – Abbott today reported that its fourth-quarter molecular diagnostics sales rose around 11 percent year over year to $126 million from $114 million in Q4 2010.

The Abbot Park, Ill.-based diagnostics and pharmaceuticals giant reported total sales of $10.38 billion for the quarter, up 4 percent from $9.97 billion. Its net earnings for the quarter were $1.62 billion, or $1.02 per share, up from $1.44 billion, or $.92 per share, for the fourth quarter of 2010.

Abbott's molecular diagnostics sales for the year jumped 15 percent to $442 million from $385 million.

For full-year 2011, Abbott's total sales were $38.85 billion, up nearly 11 percent from $35.17 billion for 2011. It profit for the year was $4.73 billion, or $3.01 per share, up from $4.63 billion, or $2.96 per share.

During 2011, Abbott received US Food and Drug Administration clearance for four molecular tests: its RealTime PCR-based test for hepatitis C; its Vysis CLL FISH Probe Kit for determining the prognosis of patients with chronic lymphocytic leukemia; its Vysis ALK Break Apart FISH Probe for use with Pfizer's Xalkori (crizotinib) ALK-inhibitor; and its Vysis EGR1 FISH Probe Kit for prognosis of patients with acute myeloid leukemia.

The firm also said in October that it would split into two separate, publicly-traded companies — one focused on diversified medical products and the other on research-based pharmaceuticals.

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