In the meantime, and until further notice, let's take the CFO at his word: "Until then  sales likely will be little changed. The company will lose about $2.5 billion of what it projects will be $18 billion in 2013 revenue as patents expire, Chase said. The sales loss will be offset by more revenue from Humira and Androgel, a testosterone product."
Now let's consider ABT and what it has to offer investors going forward. Abbott is still a diversified health-care company with a market cap of over $52 billion. Its performance goals are focused across a broad portfolio of leading businesses aligned with favorable long-term healthcare and emerging market trends.
Financially, ABT intends to generate "top-tier growth," as explained in the investor relations section of its fascinating Web site, which speaks of "... expanding margins and strong cash flow."Abbott's sales are diversified throughout the world, with 30% of sales in the United States, 30% from other developed markets (Canada, Western Europe, Japan, and Australia) and 40% in emerging markets such as India, China, Russia and Brazil. Its "A-to-Z" list of products, from animal health to nutrition bars called "Zone Perfect" can also be found at the Web site referenced above. On Thursday the U.S. Food and Drug Administration approved Abbott's Xience Xpedition coronary stent system. This allows the company to begin selling it immediately in all 50 states. The Abbott Park, Ill., company said in a prepared statement the new coronary stent system provides "physicians with a next generation technology with the largest size matrix in the U.S. market." Perhaps that approval and the very successful spin-off of ABBV helps account for the almost 4% jump in ABT's share price on Thursday, when the market averages were mainly down. "The launch of Xience Xpedition in the United States will advance Abbott's worldwide market-leading position in drug eluting stents," said John Capek, Abbott's executive vice president of medical devices. It's important to note that Xience Xpedition is already sold in Europe, the Middle East and parts of Asia. The first physician to implant a patient with the newly approved coronary stent system in the U.S. was quoted in the Chicago Business Journal as saying, "The impact of the changes to the stent delivery system is particularly notable in patients with complex coronary anatomy."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV