Posted AT 9:23 AM EST on 16/07/08
Abbott shares jump as profit tops forecast
NEW YORK — Abbott Laboratories Inc. Wednesday said second-quarter earnings jumped 34 per cent, beating its expectations, fuelled by sizzling sales of its medical devices, Humira arthritis treatment and other drugs.
The suburban Chicago drug maker, whose shares rose 2.5 per cent, said it earned $1.32-billion (U.S.), or 85 cents per share. That compared with $989-million, or 63 cents per share, in the year-ago quarter.
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