Abbott Laboratories Says Breakup Plans on Target as Profit Tops Estimates

Published: Apr 18, 2012

Abbott Laboratories (ABT), splitting into a drugmaker and a diversified health-care business, reported net income that beat analysts’ estimates and raised its 2012 forecast as sales jumped more than expected for its top product.

First-quarter revenue climbed 4.6 percent to $9.46 billion in the quarter, the Abbott Park, Illinois-based company said in a statement today. Humira, an autoimmune drug, gained about 17 percent to $1.93 billion, beating the $1.85 billion average of four analyst estimates compiled by Bloomberg.

Back to news