Abbott Laboratories Company Info

Drug and medical-device company Abbott Laboratories is scheduled to reports earnings for the third quarter on Wednesday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: Late last month Abbott announced it would pay $6.6 billion for the pharmaceutical business of Belgian chemicals maker Solvay, a move that further expands the company's international scope and product portfolio. Abbott highlighted Solvay's access to emerging markets in Eastern Europe and Asia along with new products including hormone therapies and vaccines. The two companies previously shared marketing rights for Solvay's cholesterol drugs Trilipix and TriCor. Abbott has already snatched up ... Read Full Story

Impax Laboratories Inc. confirmed Friday it is challenging the patents on Abbott Laboratories' cholesterol drug TriCor, and that Abbott is suing Impax for patent infringement. Impax, of Hayward, Calif., said it requested marketing approval for generic versions of 48 milligram and 145 milligram TriCor tablets. Abbott filed suit on Thursday in the U.S. District Court for the District of New Jersey. The lawsuit means the Food and Drug Administration cannot approve Impax's drug for 30 months, or until the litigation is resolved. Annual sales of TriCor, or fenofibrate, are more than $1 billion. The patents protecting TriCor will start to expire in January 2011, ... Read Full Story

The Food and Drug Administration has approved a new test from Abbott Laboratories that detects both types of the virus that causes AIDS. The FDA says the company's Abbott Prism HIV O Plus test can detect HIV types 1 and 2. HIV type 2 is mostly found in West Africa, while HIV type 1 consists of various subgroups found in both the U.S. and West Africa. The test runs on North Chicago, Ill.-based Abbott's Prism system, an automated instrument also used to test blood for hepatitis. The new test will be used to screen for HIV in blood and organ donations. HIV attacks the ... Read Full Story

Abbott Laboratories engages in the development, manufacture, and sale of health care products worldwide. It operates in four segments: Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Vascular Products. Abbott Laboratories is a dividend aristocrat as well as a component of the S&P 500 index. It has been increasing its dividends for the past 36 consecutive years. Over the past 10 years the company has delivered an average total return of 8.50% annually to its loyal shareholders. The company has managed to deliver a 4.80% average annual increase in its EPS. The ROE has been declining over the past 10 years, from its highs in ... Read Full Story

Ranbaxy Laboratories touched a 52week high of Rs 508. At 2:57 pm, the share was quoting at Rs 506, up Rs 22.35, or 4.62%. It was trading with volumes of 731,974 shares. Yesterday the share closed up 3.10% or Rs 14.55 at Rs 483.65. Read Full Story

Abbott Laboratories says second-quarter profit fell 3 percent, but the drug and medical-device company met Wall Street forecasts as the blockbuster drug Humira continued gaining ground in the market. The company earned $1.29 billion, or 83 cents per share, down from profit of $1.32 billion, or 85 cents per share, during the same period a year prior. Revenue rose 2.5 percent to $7.5 billion from $7.31 billion. Excluding charges, the company said it earned 89 cents per share, while Wall Street expected profit of 89 cents per share on revenue of $7.55 billion. Looking ahead, Abbott expects profit between 88 cents and 90 cents ... Read Full Story

2008 was quite an interesting and exciting year for the Healthcare sector. Each sub-sector was struck with their own disruptions and it caused industry wide job cuts and strategic maneuvers. The Obama administration has come in and new legislation will be passed most likely hurting Biotechnology, Pharmaceuticals, and Managed Care. Only time will tell who stands on top after the talks of startling changes quickly dissipates. Nonetheless, I have provided you with three solid choices for your portfolio for 2009. Abbott Laboratories (ABT) By reading any of my recent articles you can promptly say that I am not a proud supporter of the Pharmaceuticals ... Read Full Story