Abbott Hoists Forecast Sails Higher Despite Infant Formula, Inflation, Exchange Headwinds

20 Jul 2022

Although sales of infant formula and other pediatric nutritionals were down more than 20% in US and more than 13% worldwide during Q2 on an organic measure – excluding a currency exchange impact – Abbott reports 14.3% overall sales growth to $11.3bn.

Abbott ’s earnings headwinds from inflation and foreign exchange on top of its infant formula market losses don’t add up to diminishing the firm’s outlook for the year.

Although sales of its Similac and other infant formula and other pediatric nutrition brands were down more than 20% in...