July 20, 2011
Profits Up 50 Percent For Abbott Labs
Illinois-based Abbott Laboratories, which operates a bioresearch center in Worcester, reported today that its second-quarter profits were $1.9 billion, up 50.4 percent from $1.2 billion during the same quarter a year prior.
Revenues for the quarter were $9.6 billion, up 9 percent from $8.8 billion from last year.
Abbott's proprietary pharmaceutical segment led the increase with 13-percent sales growth to $4.1 billion during the quarter. Emerging market sales were at $2.5 billion, which represents growth of 23.2 percent from the same time a year ago.
The company noted that it will benefit from a $519-million tax adjustment in 2011, which equates to 33 cents per share.
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