Abbott Labs returns to profit in 4th-qtr 2007

US health care major Abbott Laboratories's fourth-quarter 2007 results saw a return to profit from the comparable period the year before when it was was hit by a $1.3 billion charge related to its $3.7 billion purchase of Kos Pharmaceuticals (Marketletter January 1 & 8, 2007).

In the three months to December 31, 2007, the North Chicago, Illinois-based company's earnings under Generally-Accepted Accounting Principles totaled $1.2 billion, or $0.77 per share, versus a loss of $476.2 million, or $0.31 per share, in fourth-quarter 2006.

During the period, total income jumped 16% to $7.22 billion. Ex-US sales put in a good performance, rising 21.1% to $3.63 billion, while domestic turnover jumped 10.6% to $3.59 billion.