Abbott Labs' 3rd-qtr earnings up 5.2% to $716M, on 52% Humira sales hike
US health care major Abbott Laboratories says that its net earnings for the third quarter 2006 were $716.0 million, or $0.46 per share, up 5.2% on the comparable period in 2005. The firm said that the increase was largely as a result of improved product sales, citing its anti-tumor necrosis factor therapy Humira (adalimumab), which achieved growth of 51.8% to $541.0 million in the quarter, as a key performer.
The company added that the quarter had also seen a favorable adjustment to its tax expenditure of $133.0 million, or $0.09 per share, as a result of the resolution of the prior years' tax audits.
Net sales up 3.5% to $5.57 billion
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