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Jan 22 (Reuters) - Abbott Laboratories Inc beat quarterly sales estimates on Wednesday, boosted by higher revenue from its diabetes and heart devices.
Shares of the company were up about 2% at $91.29 in trading before the bell, after gaining 20% in 2019.
The company said it expects 2020 full-year adjusted earnings per share between $3.55 and $3.65 from continuing operations.
Sales from Abbott's continuous glucose monitor, FreeStyle Libre, rose 58.5% to $534 million in the reported quarter, furthering gains at the company's medical devices unit.
Launched in Europe in 2014 and in the United States three years later, FreeStyle Libre helps diabetics track blood sugar levels without having to prick their fingers.
The company's medical devices unit, which also houses heart valve repair device, MitraClip, brought in sales of $3.20 billion.
Overall sales rose 7% to $8.31 billion in the fourth quarter, beating the consensus estimate of $8.26 billion, according to IBES data from Refinitiv.
The company's net earnings rose to $1.05 billion, or 59 cents per share, in the quarter ended Dec. 31, from $654 million, or 37 cents per share, a year earlier.
Excluding items, Abbott earned 95 cents per share, in-line with the average analyst estimate. (Reporting by Trisha Roy and Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)