US infant formula firm Abbott Laboratories has reported flat half-year sales from its nutrition division, which houses its baby and adult nutrition businesses.
Abbott said its sales, excluding the impact of foreign currency, inched up 0.7% in the first six months of the year. On a reported basis, including foreign exchange, sales were down 1.2% at US$3.36bn.
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The company said its pediatric nutrition sales increased 1.1% in the second quarter when currency fluctuations were excluded from the results and fell 0.5% with the foreign exchange impact included.
Abbott said the disruption to its sales last August after supplier Fonterra recalled a batch of whey protein concentrate amid a botulism scare impacted the year-over-year sales comparison in its international pediatric nutrition business by $40m.
Abbott said it is “recapturing share” in the affected markets. It launched several products during the quarter and opened a new nutrition manufacturing plant in China, which will manufacture its Similac Qinti infant formula.
Worldwide adult nutrition sales increased 5.7% during the second quarter when the impact of foreign exchange was removed from the results. Including currency fluctuations, sales were up 4.4%.
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By GlobalData
