Vietnamese healthcare professionals explore the important role of clinical nutrition
Abbott, one of the largest diversified global health care companies, achieved good performance in 2013, in spite of economic challenges worldwide.
Abbott has just announced its financial results for 2013's fourth quarter, which stated that last year the company’s sales totaled US$21.9 billion, with ongoing diluted EPS (earnings-per-share) being $0.58 in the fourth quarter and $2.01 for the full year, “reflecting double-digit growth.”
Innovation continues to be the key driver for growth
Contribution to this strong growth in Abbott total sales is the good performance of its Nutrition business, with 5.4% growth.
Sales growth in nutrition business was led by strong growth of Ensure and continued expansion of the adult nutrition market where Abbott is the global leader. Pediatric nutrition continues to drive strong performance, as it launches new product innovations and executes on geographic expansion initiatives.
In addition to Nutrition, sales of Diagnosis and Medical devices, Established Pharmaceuticals are positive according to the company recent release.
Across its diverse business portfolio, Abbott sustains the leadership position in many large and attractive markets.
In Nutrition, Abbott is the leading science-based nutrition company, taking the market leader in worldwide adult nutrition.
In Diagnostics, the company continues to lead point-of-care platform.
Furthermore, in Medical Devices, it maintains number 1 position in highly innovative devices, such as: Drug-eluting stent; LASIK...
"In 2013, despite some challenges, we achieved our expectations for earnings growth, including more than 100 basis points of operating margin expansion," said Abbott chairman and chief executive officer Miles D. White. "In 2014, we are targeting another year of double-digit ongoing (EPS) growth."
The impressive financial performance and sustainable leadership have been achieved through Abbott’s continuous investment into R&D and its strong focus on innovation.
Abbott has attributed all of these successes to its focus on innovation.
Over the course of the last 12 months, Abbott had invested $1.5 billion in research and development (R&D) to bring new solutions that meet rapidly changing healthcare needs of people of all ages around the world.
In Nutrition business, the company’s investment in R&D has resulted in a five-fold increase in the number of new products launched annually since 2008 and a ten-fold increase in both clinical trials and patent application.
It is also expanding its global R&D footprint in Asia like Singapore, China and India to ensure its products can meet the local needs and preferences of consumers.
Commitment to consistently delivering innovations to better serve the community
In 2013, Abbott delivered on a number of new product launches.
Highlights include nearly 70 new product launches in Nutrition; XIENCE Xpedition™ drug-eluting stent in the United States and Japan; MitraClip®, Abbott's first-in-class device for the treatment of mitral regurgitation...
Focusing in emerging market (whose sales account for more than 40% of global sales), especially Vietnam with the high and constantly-growing population, the upgrade of living standards and income per capita, the increasing attention to healthcare products, quality of life... Abbott has been tirelessly innovating new solutions to keep pace with the rapidly changing health needs of Vietnamese people through diversifying its product portfolios.
In Vietnam last year, Abbott launched up to 10 new nutritional products including BoneSure, Ensure ActivM2, Similac Intelli Pro... and introduced many innovative healthcare solutions that demonstrate the commitment of Abbott in providing solutions that enhance Vietnamese people’s health and well-being.
In terms of established pharmaceuticals, Abbott has launched high-quality pharmaceutical products at competitive prices which are used to cure for different diseases, including vascular, infectious and mental diseases.
Not only leading in researching and developing healthcare solutions, Abbott has supported clinical studies to discover the important roles of clinical nutrition, which help to improve the quality treatment.
Important findings of Phillipson study, supported by Abbott, found that oral nutritional supplements provided to patients during hospitalization are associated with significant reductions in length of stay (21%) and hospitalization cost (21.6%). Additionally, the 30-day readmission risk was 6,7% significantly reduced for patients with at least one known subsequent readmission.
The positive effects of oral nutrition supplement as well as the critical findings of Phillipson study have been introduced to Vietnamese healthcare professional (HCP) community in August last year which enabled assessment to innovative solutions solving the serious hospital malnutrition in Vietnam recently.
With its strong commitment to continuously innovating to better serve Vietnamese people, Abbott will continue to invest into R&D efforts to span the nutritional needs of infants and adults, address key demographic shifts that position the company for strong future growth.