The Rising Influence of Rising Affluence

[DewDiligence]

ABT +6.4% on the 3Q13 results, which included continued robust sales in emerging markets despite the mishap with infant formula (a $90M hit to revenue). This is the company’s PR:

http://finance.yahoo.com/news/abbott-reports-third-quarter-2013-114400978.html

FiercePharma penned a recent piece called, “The Top 10 Drugmakers in Emerging Markets” (http://www.fiercepharma.com/special-reports/top-10-drugmakers-emerging-markets ). ABT was not included in the ranking because (sans ABBV) it gets only 25% of sales from drugs; however, ABT derives a higher proportion of sales from emerging markets than every company on the FiercePhrama list!

2013 non-GAAP EPS guidance remains unchanged at $1.98-2.04. (2014 guidance will be given on the company’s 4Q13 CC in January.)

I continue to view ABT as a core LT healthcare holding to benefit from The Global Demographic Tailwind.