Abbott’s Costs Lead to 58% Decrease in Profit
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From Bloomberg News
Abbott Laboratories, the maker of Biaxin antibiotics and Ensure nutritional drinks, said second-quarter profit dropped 58% on costs to buy a business and settle a federal investigation of its marketing practices.
Net income declined to $246.6 million, or 16 cents a share, from $592.3 million, or 38 cents, a year earlier.
Abbott’s second-quarter sales rose 9.5% to $4.72 billion.
Abbott shares fell 13 cents to $43.55 on the NYSE.
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