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Abbott reports decline in sales for first quarter 2014

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Abbott has reported total sales for the first quarter 2014 of $5.2 billion, which is a 2.5% loss from the values reported in the first quarter of 2013, according to a company press release.

International sales, which comprise more than 70% of Abbott’s total sales, increased 1.8% on an operational basis, but decreased 2.3% on a reported basis. The August 2013 sales disruption in international nutrition and the timing of supply of key products in established pharmaceuticals primarily related to an expected plant shutdown for capacity expansion purposes significantly contributed to the decrease in sales growth, the release said.

The company also reported $291 million in total Medical Optics sales for the first quarter 2014, representing a growth of 7.6% over the same period last year. Sales of cataract products, which represent more than 65% of Medical Optics sales, increased double digits, outpacing the growth of the global cataract market, according to the release.

Sales in this sector were also driven by the launch of the Tecnis Toric and Tecnis OptiBlue pre-loaded IOLs in Japan, which occurred during the reporting period, the release said.