Building on its excellent first quarter, one of Pakistan's largest multinational pharmas is continuing along its path of growth for 2016. For the half year ended, Abbott Laboratories' top line was up by 12 percent year-on-year, with lower costs giving a 16 percent growth in gross profit. The bottom line growth for the period was also a healthy 16 percent year-on-year.
The company has seen growth in both its domestic sales as well as its exports; for the half-year ended, Abbott's domestic sales were up by 11 percent over last year, while exports improved by an impressive 28 percent. The higher sales seem to be coming from a better product mix.
As per the last quarterly Director's Report, the most robust growth has been coming from the other segment of the company (64 percent year-on-year), which comprises diagnostics, diabetes care, and general healthcare.
Abbott holds a diverse product portfolio. It has leading brands in almost all therapeutic areas. Moreover, it leads the adult nutrition segment in Pakistan, with over 90 percent market share. The company was among the handful of pharmaceuticals that obtained a stay order from the Sindh High Court at the start of this year on a price increase on some of its drugs, and this helped it to achieve more monies from its pharma segment.
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