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Abbott

Pharma revenues up, but 1,900 layoffs ensue.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Abbott 4Q10 4Q Revenues: $9.7 billion (+13%) 4Q Earnings: $1.4 billion (-6%) FY Revenues: $35.2 billion (+14%) FY Earnings: $4.6 billion (-20%) Comments: Pharma sales rose 23% for the quarter to $6.0 billion and 21% for the year to $19.9 billion, boosted by the 2010 acquisitions of Solvay and Piramal Healthcare and the strong performance of Humira, which posted 4Q10 sales of $1.9 billion (+13%) and FY10 sales of $6.6 billion (+19%). Humira sales rose 14% in the U.S. to $2.9 billio...

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