Abbott Reports – Better than anticipated results
There’s an old saying that one man’s misfortune is another’s opportunity. Or put in diabetes terms, Abbott (NYSE:ABT), who reported first quarter earnings this morning and Johnson and Johnson (NYSE:JNJ) who reported yesterday appear to be the primary beneficiaries of Roche’s continued demise. Based on results released this morning Abbott diabetes is on the verge of overtaking Roche as they posted an impressive 5.3% growth rate domestically with sales of $129 million. As we noted yesterday Roche’s sales for the quarter came in at $134 million. We’ll have to wait until . . .
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