NEW YORK (GenomeWeb) – Abbott reported on Wednesday morning that its third quarter diagnostic revenues shrunk 2 percent year over year as its molecular diagnostics sales dropped 5 percent, both due to unfavorable currency effects.

The Abbott Park, Illinois-based company reported total worldwide revenues of $5.15 billion for the three months ended June 30, up 1 percent from $5.08 billion a year ago and edging out the Wall Street estimate of $5.14 billion. On an adjusted basis, excluding a nearly 10 percent foreign currency headwind, Q3 sales increased 11 percent, the company said.

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