Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By


Abbott Q2

This article was originally published in The Tan Sheet

Executive Summary

July shipments of Ensure in "new, break-resistant and re-closable bottles" expected to drive category expansion and increase market share, firm says in July 10 Q2 sales and earnings announcement. Although Ross Products division's revenue fell 7.1% to $478 mil. in second quarter due to negative impact of "pricing pressures in the institutional segment of medical nutritionals" and recent divestitures, Abbott anticipates Ross' overall sales in second half of 2003 will be flat or slightly up. Overall, Abbott reported Q2 earnings down 58% to $247 mil. due to one-time $622 mil. charge taken in the quarter to settle charges against Ross' enteral nutrition division (1"The Tan Sheet" Jan. 30, 2003, In Brief)...

You may also be interested in...

Abbott settlement

Firm will record one-time charge of $622 mil. in Q2 in anticipation of a settlement of civil and criminal charges related to sales and marketing practices by firm's Ross Products enteral nutrition division. Charges stemmed from industry-wide investigation of the enteral nutrition sector, initiated in the mid-1990's by the U.S. Attorney's office in the Southern District of Illinois. Investigation reportedly involved allegations of kickbacks in the form of discounted or free enteral pumps being supplied in exchange for disposable pump set supply contracts with providers; charges for such pumps may have been passed on to Medicare and Medicaid. "The anticipated settlement will resolve all outstanding allegations by the government," including "all federal and state Medicare and Medicaid issues," Abbott says in June 26 release...

QUOTED. 26 February 2020. Mark Leahey.

In an exclusive interview with Medtech Insight, Mark Leahey, president of the Medical Device Manufacturers Association (MDMA), said the previous four Medical Device User Fee negotiations with the US FDA have set a strong foundation for the industry and the next round of negotiations should focus on tweaking past deals that are already in place. See what MDMA's president, Mark Leahey, said about it here.

The Quality Lowdown: On Redeploying Inspectors, API Suppliers Thanks To Coronavirus

US investigators fan out to non-China inspection priorities and Secretary Azar talks supply management; warning letters hit record keeping, investigations and basic GMP compliance.





Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts