Abbott's worldwide sales increased by 11.8 per cent during the third quarter ended September 2010 to $8.7 billion from $7,761 million in the corresponding period of last year.. Growth in the quarter was driven by worldwide pharmaceutical sales, which increased by 21.7 per cent, including the contribution from the Solvay acquisition, as well as worldwide vascular products sales, which increased by 18.6 per cent. Abbott has confirmed its 2010 ongoing earnings-per-share guidance and raised the lower end of its previous guidance range.

Though its net sales increased, Abbott's net earnings declined by 39.8 per cent to $891 million from $1,480 million mainly on account of higher R&D expenditure of $1,079 million as against $676 million in the corresponding period of last year.

"Abbott delivered strong performance in the quarter as we confirmed our double-digit growth outlook for the full year," said Miles D. White, chairman and chief executive officer, Abbott. "During the quarter, we announced an agreement to expand our pharmaceutical pipeline with an attractive late-stage asset for the treatment of chronic kidney disease, which follows the addition of several novel compounds earlier this year. In addition, we completed the acquisition of Piramal's Healthcare Solutions business and finalized the integration planning for the Solvay Pharmaceuticals acquisition. The strategic actions we've taken across our global businesses position us well in high-growth emerging markets as well as promising new therapeutic areas."

Abbott has completed acquisition of Piramal's Healthcare Solutions Business during the quarter under review, propelling Abbott to market leadership in the Indian pharmaceutical market and further accelerating the company's growth in emerging markets. Abbott expects its pharmaceutical sales in India to exceed $2.5 billion by 2020.

The company announced an agreement with Reata Pharmaceuticals to develop and commercialize bardoxolone methyl for the treatment of chronic kidney disease (CKD) outside the United States, excluding certain Asian markets. Bardoxolone is an oral, first-in-class anti-inflammatory (Nrf2 activator) that works by increasing the estimated glomerular filtration rate (eGFR) of the kidneys.

Data presented from key trials at TCT reinforced the outstanding safety data supporting Abbott's market-leading Xience V Everolimus Eluting Coronary Stent System. It received FDA Market clearance for next-generation contact lens disinfecting solution RevitaLens Ocutec.

Abbott is confirming its 2010 ongoing earnings-per-share guidance and raising the lower end of its previous guidance range. As a result, Abbott's ongoing earnings-per-share guidance for full-year 2010 is now $4.16 to $4.18, excluding specified items. Including few specified items, projected earnings per share under GAAP would be $2.92 to $2.94 for the full-year 2010.

For the nine months period ended September 2010, its net sales increased by 14.7 per cent to $25,199 million from $21,975 million in the similar period of last year. However, its net earnings declined by 24.3 per cent to $3,185 million from $4,207 million.