Abbott posts 9M jump in profits as infant nutrition sales rise

A jump in sales in its nutrition arm has seen Abbott Laboratories post an increase in sales and profits overall for the first nine months of the year.

For the nine months ended 30 September, the infant nutrition maker recorded a sales increase of 5.5% on an operational basis and 0.5% on a reported basis to US$5.17m in its nutrition business. For the third quarter, sales in the nutrition segment were up 6.5% on an operational basis and 0.2% on a reported basis to US$1.8m.

Abbott said in its paediatric nutrition arm, sales growth was led by “continued market uptake of Eleva in the premium segment of the Chinese market and Similac Advance non-GMO in the US”.

Overall for the group, net income rose from $1.38bn to $3.65bn for the nine month period. Operating earnings for the group grew 15% to $2.0bn and sales increased 2.2% to $15.2bn for the nine months.

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