Medical Technology

Abbot Laboratories

The Company

Abbott Laboratories <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: ABT)") else Response.Write("(NYSE: ABT)") end if %> is a global, diversified healthcare company that operates two major divisions: pharmaceutical and nutritional products, which consists of antibiotics, anticonvulsants, and nutritional drinks; and hospital and laboratory products. It is number one in the world in the production of the antibiotic erythromycin and is well known for its ubiquitous baby formula Similac. The company employs 54,000 people and markets its products in more than 130 countries. Forty percent of its sales come from outside of the U.S. Instrumental to Abbott's strategy are joint marketing arrangements that provide greater distribution of its products. As part of this strategy, Abbott initiated over 20 joint ventures and cross-licensing agreements over the last year that should help to drive growth going forward.

Latest Financials

Worldwide sales for the second quarter ended June 30, 1997, were $2.9 billion, up 7.5% from $2.699 billion in the second quarter of 1996. Earnings per share for the quarter rose to $0.68, up 13.3% from $0.60 a year ago. Net earnings increased 10.9% to $522 million from $470 million in the second quarter of 1996. Total sales were unfavorably impacted 2.9% due to the effect of the relatively stronger U.S. dollar.

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