Abbott reports increase in sales of Humira during Q1

ABBOTT PARK, Ill. Abbott Labs reported an almost 30% increase in sales for a drug to treat rheumatoid arthritis in a first quarter 2009 earnings release Wednesday.

Global sales of Humira (adalimumab) were more than $1 billion, a 16.7% increase over first quarter 2008, including the effect of currency exchange rates, which lowered the percentage figure by 11%.

Worldwide pharmaceutical operational sales, excluding an unfavorable 6.6% effect from exchange rates, increased by 0.9%. Meanwhile, decline in sales of the epilepsy drug Depakote (divalproex sodium) decreased global pharmaceutical sales growth by 6.1%. Depakote has numerous generic competitors in the delayed-release formulation.

“Our first-quarter results demonstrate again the value of a well-balanced and highly diverse portfolio of businesses capable of top-tier earnings performance even in the most difficult market conditions,” Abbott chairman and CEO Miles White said. “This quarter, our collective businesses delivered mid-teens earnings-per-share growth, including continued strong double-digit operational sales growth in global nutritionals, global vascular and international pharmaceuticals.”