In April, drugmaker Abbott Labs (NYSE:ABT) reported better-than-expected quarterly sales and earnings that were largely due to strong demand for its Humira arthritis drug. The company earned $1.24 billion, or 78 cents per share, in the first quarter, up from $864 million, or 55 cents per share, the prior year. Excluding special items, Abbott earned $1.03 per share, which beat Wall Street estimates for $1. A couple months earlier, Abbott upped the dosage on its dividend by 6.25% to 51 cents per share. Investors have rewarded Abbott’s solid performance by bidding the stock up about 10% year-to-date.
Abbott is one of the best drugmakers out there, with a host of moneymaking products out now, and many more in the pipeline — which should ensure big numbers for many quarters to come.