Strong 3rd Qtr For Abbott As It Enters New Markets

13 October 1996

One of the first of the US pharmaceutical companies to report financial results for the third quarter of 1996, Abbott Laboratories announced growth in sales and earnings, and a move into new markets.

Duane Burnham, chief executive at Abbott, said: "Abbott's worldwide pharmaceutical business, along with our entrance into the glucose monitoring and diagnostic imaging markets, drove the company's strong performance this quarter. Our results reflect the effectiveness of our strategy to grow through internal product development and market expansion, complemented by external alliances and acquisitions."

Worldwide turnover of $2.6 billion was achieved in the third quarter, up 10.7%. Net income was 10.2% higher at $421 million, and earnings per share were 54 cents, up 12.5%.

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