Latin America, China help Abbott beat sales predictions

Demand for Abbott Laboratories generic drugs in emerging markets, including in Latin America and China, helped them rack up better-than-expected quarterly sales, Reuters reported.

The sales of generic drugs rose to $961 million in the third quarter, as sales grew in emerging markets by double digits, according to the report.

This was helped, in part, by Abbott's acquisition of Chilean drugmaker CFR Pharmaceuticals SA.

Generic drug sales contributed to about 19 percent of Abbott's total sales.