Decoding Abbott Laboratories’ Latest Fiscal 2017 Guidance
During its 3Q17 earnings release on October 18, 2017, Abbott Laboratories (ABT) provided an updated guidance for fiscal 2017 and 4Q17.
Abbott Laboratories (ABT) has reported a strong earnings performance for the past few quarters.
On October 3, 2017, Abbott announced the completion of its acquisition of Alere, which has had troubles since the initial announcement in February 2016.
Abbott’s Medical Devices segment has products for rhythm management, heart failure, electrophysiology, structural heart diseases, neuromodulation, and more.
Abbott Laboratories (ABT) registered Diabetes sales of ~$373 million in 3Q17, which represented ~14.4% of its total Medical Devices segment sales.
Abbott (ABT) registered sales growth of ~5% in its Diagnostics business in 3Q17. The segment’s sales were driven by a strong performance outside the US.
The Indian government’s implementation of a new GST system came into effect on July 1, 2017, and hit Abbott’s Established Pharmaceuticals Division sales.
Abbott Laboratories (ABT) registered sales of ~$6.8 billion for 3Q17, which represents YoY (year-over-year) sales growth of ~28.8% on a reported basis.
Abbott registered strong 3Q17 results, surpassing estimates for both sales and earnings and reporting healthy growth across all of its business segments.
Teva is actively making progress toward divestiture opportunities. In November 2017, it divested Paragard to Cooper Surgical for $1.1 billion.
Teva’s Women’s Health segment reported 3Q17 revenues of $119 million, which was ~9% higher YoY (year-over-year) and 3% higher QoQ (quarter-over-quarter).
Teva’s Respiratory segment reported 3Q17 revenues of $351 million, which was ~30% higher YoY (year-over-year) and ~9% higher QoQ (quarter-over-quarter).
Teva CNS drugs generated 3Q17 revenues of $1.1 billion, which was ~12% lower YoY (year-over-year) and ~1% lower QoQ (quarter-over-quarter).
Teva’s Generic Medicine segment generated 3Q17 revenues of $3.0 billion, which was ~8% higher YoY (year-over-year) but ~2% lower QoQ (quarter-over-quarter).
Teva (TEVA) reported 3Q17 revenues of $5.6 billion, which represents a ~1% YoY (year-over-year) rise but a 1% QoQ (quarter-over-quarter) fall.
On November 20, 2017, Abbott Laboratories (ABT) stock closed at $55.3. The company reported its 52-week high of $56.7 on October 23, 2017.
Synergy only started earning revenues after the launch of Trulance in March 2017. Prior to that, Synergy hadn’t earned any revenues.
Synergy (SGYP) incurred R&D (research and development) expenses of ~$90 million, $78 million, and $ 83 million in fiscal 2016, 2015, and 2014, respectively.
Since its launch, Synergy’s (SGYP) Trulance sales have been steadily rising. In 3Q17, more than 25,000 prescriptions were filled for the drug.
According to Synergy, it’s estimated that ~33 million people suffer from CIC and 12 million people suffer from IBS-C in the US.