Abbott Laboratories has no intention of selling its soon-to-be-separated pharmaceuticals business to another drugmaker and any potential bidder would struggle to persuade management otherwise, its chief executive said on Monday. Miles White told an industry conference in London speculation that Abbott’s drugs unit might be touted for sale was “incorrect”. Abbott announced plans in October to split itself in two, in a move designed to increase Wall Street’s focus on the remaining diversified medical product business, which has tended to be overshadowed by pharmaceuticals.
