"Solid Performance" From Abbott In 1st Qtr

Abbott Laboratories of the USA achieved an increase in sales in thefirst quarter of 1997 of 12.3% to just under $3 billion. Net earnings for the year were $535 million, up 11.4%, and earnings per share were ahead 13.1% to 69 cents.

Duane Burnham, chairman and chief executive of the company, said: "Abbott's businesses continued to deliver solid performances in the first quarter. Our revenues growth continues to reflect the positive impact of the successful integration of the MediSense acquisition and Abbott's entry into the contrast imaging market."

During the first quarter, sales of pharmaceuticals and nutritional products were $1.83 billion, up 14.2%. In the USA, sales of these products amounted to $1.2 billion and, international turnover was $627 million. Abbott's hospital and laboratory product sales grew 9.4% to $1.17 billion, with turnover in the USA representing $652 million of the total. International turnover of hospital and laboratory products, including direct exports from the USA, accounted for $522 million.