2012 revenue: $9.78 billion
2011 revenue: $9.9 billion
Year in review: For Abbott ($ABT), 2012 marks an end of an era. As of Jan 1, 2013, the company spun off its brand-name drug business into AbbVie ($ABBV), and the remaining Abbott focuses on medical devices, diagnostics, nutritional products and generic drugs. But Abbott ended its last year before splitting in two on a sour note, booking disappointing sales for its medical devices business unit in the 2012 fourth quarter. Vascular revenue during the quarter dropped 8.1% to $760 million, for example, as the company stopped supplying its Promus stent to Boston Scientific ($BSX), and numbers ricocheted lower after the late 2011 launch of the Xience Prime stent spiked revenue. With a greater focus on devices and diagnostics, Abbott is hoping to grow its 2013 numbers with the launch of the next-generation Xience Xpedition and advance U.S. testing of Absorb, a bioresorbable vascular scaffolding. Expect lots of new assays and companion diagnostics as well.
Abbott faces lagging stent sales in drug-free future