Abbott Labs' Sales And Profits Rise In 2nd Qtr

Worldwide sales of $2.7 billion were announced by Abbott Laboratories of the USA for the second quarter of 1996, which was a rise of 8% on the like, year-earlier period. Profits grew 10.9% to $470 million and earnings per share were ahead 13.2% to 60 cents.

"Our US pharmaceuticals business and our international business continue to post strong results," commented Duane Burnham, chairman and chief executive of Abbott. However, it was noted that turnover was unfavorably impacted by 2.2% due to the effect of the relatively stronger US dollar.

Turnover of pharmaceutical and nutritional products in the second quarter grew 9.9% to $1.5 billion. US sales of these products accounted for $995 million of this total. Hospital and laboratory product sales were $1.2 billion, up 5.5%.