Saturday, March 3, 2012

Abbott faces challenges amid success

As shareholders gather at Abbott Laboratories' annual meetingtoday, they'll find business at the company's diabetes care businessaccelerating and its drug business scoring successes.

But the jury is still out on Abbott's ability to regain marketshare in its U.S. diagnostic test business, hurt by since-resolvedU.S. regulatory issues.

Abbott reported global sales of $5.4 billion in the first quarter,up 16 percent. Pharmaceutical sales contributed strongly, rising 20percent to $1.9 billion in the United States and 18 percent to $1.3billion abroad.

Diabetes-care products rose 74 percent globally, and the companygained 2 percentage points in U.S. market share for …

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