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Abbott's MDx Sales Rise 23 Percent in Q2 2010

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Abbott Laboratories today reported 18 percent revenue growth overall for the second quarter ended June 30, and a 23 percent increase in sales of its molecular diagnostic products.

The diagnostics and pharmaceuticals giant reported Q2 sales of $89 million for its molecular diagnostic products, of which $43 million was derived from US sales and the remainder from international markets.

Late in the second quarter, Abbott received US Food and Drug Administration clearance for its molecular diagnostic test for detecting gonorrhea and chlamydia, including a new strain of chlamydia recently discovered in Sweden, and its m2000 molecular diagnostic system.

Abbott said in a statement that it expects to launch more than 12 new molecular diagnostic products over the next two to three years, including several cancer and infectious disease tests, as well as improved instrument systems.

Overall, Abbott reported Q2 revenues of $8.8 billion, up from $7.5 billion for Q2 2010. Its net earnings were flat year over year at $1.29 billion, or $.83 per share.

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