"The company has been around for more than 120 years. It currently operates in more than 130 countries, selling hundreds of products, including Ultane (an inhaled anesthetic), the anti-infective Biaxin XL, and TriCor and Niaspan to manage cholesterol.
"However, Abbott's biggest growth driver is Humira, a blockbuster drug that targets autoimmune disorders. The drug has received FDA approval to treat a number of diseases, including rheumatoid arthritis, psoriasis and Crohn's disease.
"Last July, the FDA approved Abbott's newest drug-coated stent, Xience V. And management has been surprised and pleased by how rapidly doctors have adopted the new technology. (Drug-coated stents are now used in nearly 70% of procedures in the United States.)
"Abbott's numbers are already excellent. Third-quarter profit jumped 51% on a 17.6% increase in revenue. (Sales hit $7.5 billion.) With rapid expansion into international markets and a slew of new products becoming available over the next 12 months, this company's prospects remain excellent."
Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.
Reader Comments (Page 1 of 1)
1-30-2009 @ 1:27PM
MyKisa said...
Follow the money trail to the administration and you will see who is invested heavily in this one...and why they will not fail.