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ABBOTT ACHIEVES RECORD SALES, EARNINGS IN SECOND QUARTER

 ABBOTT ACHIEVES RECORD SALES, EARNINGS IN SECOND QUARTER
 ABBOTT PARK, Ill., July 8 /PRNewswire/ -- Abbott Laboratories


(NYSE: ABT) today reported record sales and earnings for both the second quarter and first half ended June 30, 1992.
 Worldwide sales for the second quarter were $1.909 billion, up 13.4 percent from $1.683 billion in the second quarter of 1991. Earnings per share for the quarter increased 19.4 percent to 37 cents. Net earnings were up 18.2 percent to $317 million.
 "We are very encouraged by the company's strong second quarter performance in each of its major businesses," said Duane L. Burnham, chairman and chief executive officer.
 Contributing to Abbott's second quarter results, Burnham said, were higher unit volume, improved product mix and increased productivity. He said Abbott expects to achieve record sales and earnings for the 21st consecutive year in 1992.
 In May 1992, Abbott sold its investment in Boston Scientific Corporation for a pre-tax gain of $272 million.
 On June 5, 1992, Abbott announced a voluntary worldwide withdrawal of temafloxacin, a quinolone anti-infective. In the second quarter of 1992, the company recorded a pre-tax charge of $215 million for costs associated with the withdrawal.
 Sales of pharmaceutical and nutritional products were $972 million in the second quarter, a 14.4 percent increase from the $851 million in the second quarter of 1991. Hospital and laboratory product sales totaled $937 million in the second quarter, a 12.4 percent increase from the $832 million a year ago.
 Sales in domestic markets were $1.181 billion, up 13.1 percent from $1.044 billion in the second quarter of 1991. International sales, including direct exports from the United States, were $728 million, a 13.9 percent increase from the $639 million recorded a year ago.
 In the first half of 1992, worldwide sales were $3.787 billion, up 13.5 percent from $3.337 billion of a year earlier. First half earnings per share increased 18.0 percent to 72 cents from 61 cents one year ago. Net earnings were $611 million, up 17.0 percent from the $522 million of the first half of 1991.
 Worldwide sales of pharmaceutical and nutritional products were $1.969 billion in the first half, a 15.1 percent increase from $1.712 billion a year earlier. Worldwide sales of hospital and laboratory products totaled $1.818 billion in the first half, an 11.8 percent increase from the $1.625 billion of one year ago.
 Sales in domestic markets increased 14.1 percent from the same period in 1991. Sales in international markets, including direct exports from the United States, were $1.429 billion, up 12.5 percent from the first half of 1991.
 Abbott Laboratories is a worldwide manufacturer of health care products employing some 46,000 people. In 1991, the company's sales and net earnings were $6.9 billion and $1.1 billion, respectively, with earnings per share of $1.27.
 ABBOTT LABORATORIES AND SUBSIDIARIES
 Consolidated Statement of Earnings
 Second quarter ended June 30 1992 1991
 Net Sales $1,908,670,000 $1,682,984,000
 Cost of Products Sold 862,985,000 774,740,000
 Research & Development 176,598,000 161,444,000
 Selling, General & Administrative 452,944,000 374,748,000
 Provision for Product Withdrawal 215,000,000 --
 Total Operating Cost and Expenses 1,707,527,000 1,310,932,000
 Operating Earnings 201,143,000 372,052,000
 Interest (Income) Expense, Net 2,741,000 8,008,000
 Other (Income) Expense, Net (A) 12,151,000 (16,514,000)
 (Gain) on Sale of Investment (271,986,000) --
 Earnings Before Taxes 458,237,000 380,558,000
 Taxes on Earnings 141,150,000 112,264,000
 Earnings Before Extraordinary
 Item and Accounting Change 317,087,000 268,294,000
 Extraordinary Item, Net of Tax (B) -- --
 Cumulative Effect of Accounting Change,
 Net of Tax (C) -- --
 Net Earnings $ 317,087,000 $ 268,294,000
 Per Share Amounts:
 Earnings Before Extraordinary
 Item and Accounting Change $ 0.37 $ 0.31
 Extraordinary Item, Net of Tax (B) -- --
 Cumulative Effect of Accounting Change,
 Net of Tax (C) -- --
 Net Earnings $ 0.37 $ 0.31
 Average Shares Outstanding (D) 847,703,000 855,474,000
 Tax Rate (percent) 30.8 29.5
 Six months ended June 30 1992 1991
 Net Sales $3,786,602,000 $3,336,632,000
 Cost of Products Sold 1,707,726,000 1,538,985,000
 Research & Development 358,106,000 314,846,000
 Selling, General & Administrative 891,482,000 739,643,000
 Provision for Product Withdrawal 215,000,000 --
 Total Operating Cost and Expenses 3,172,314,000 2,593,474,000
 Operating Earnings 614,288,000 743,158,000
 Interest (Income) Expense, Net 5,847,000 11,192,000
 Other (Income) Expense, Net (A) 13,538,000 (9,021,000)
 (Gain) on Sale of Investment (271,986,000) --
 Earnings Before Taxes 866,889,000 740,987,000
 Taxes on Earnings 255,573,000 218,591,000
 Earnings Before Extraordinary
 Item and Accounting Change 611,316,000 522,396,000
 Extraordinary Item, Net of Tax (B) -- 128,182,000
 Cumulative Effect of Accounting Change,
 Net of Tax (C) -- (128,114,000)
 Net Earnings $ 611,316,000 $ 522,464,000
 Per Share Amounts:
 Earnings Before Extraordinary
 Item and Accounting Change $ 0.72 $ 0.61
 Extraordinary Item, Net of Tax (B) -- 0.15
 Cumulative Effect of Accounting Change,
 Net of Tax (C) -- (0.15)
 Net Earnings $ 0.72 $ 0.61
 Average Shares Outstanding (D) 848,736,000 856,430,000
 Tax Rate (percent) 29.5 29.5
 (A) -- Includes net losses on foreign exchange of $26,542,000 and $37,307,000 for 1992 second quarter and six months, respectively, and net (gains) on foreign exchange of ($16,657,000) and ($6,778,000) for 1991 second quarter and six months, respectively.
 (B) -- Represents the after-tax gain from the 1991 first quarter sale of the company's investment in Amgen, Inc.
 (C) -- Represents the cumulative impact as of Jan. 1, 1991, of adopting the accounting standard on certain postemployment benefits.
 (D) -- The average shares outstanding reflect the two-for-one stock split, effected in the form of a dividend, on May 1, 1992.
 -0- 7/8/92
 /CONTACT: Don Braakman of Abbott, 708-937-1237/
 (ABT) CO: Abbott Laboratories ST: Illinois IN: MTC SU: ERN


GK -- NY074 -- 7636 07/08/92 18:10 EDT
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