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ABBOTT ACHIEVES RECORD SALES, EARNINGS IN THIRD QUARTER; EARNINGS PER SHARE INCREASE 13.8 PERCENT

 ABBOTT ACHIEVES RECORD SALES, EARNINGS IN THIRD QUARTER;
 EARNINGS PER SHARE INCREASE 13.8 PERCENT
 ABBOTT PARK, Ill., Oct. 8 /PRNewswire/ -- Abbott Laboratories (NYSE: ABT) achieved record sales and earnings for both the third quarter and nine months ended Sept. 30, 1992.
 Worldwide sales for the third quarter were $1.968 billion, up 19.1 percent from $1.654 billion in the third quarter of 1991.
 Earnings per share for the quarter increased 13.8 percent to 33 cents. Net earnings were up 10.8 percent to $279 million.
 "The strong worldwide acceptance of our new macrolide antibiotic clarithromycin continues to be very important to our performance," said Duane L. Burnham, chairman and chief executive officer. "We're also pleased with the continued success of our diagnostics business, particularly our IMx immunoassay system and our blood screening tests for the HIV-1/HIV-2 and hepatitis C viruses, which are used throughout the world."
 During the quarter, Abbott filed a New Drug Application with the U.S. Food and Drug Administration for a pediatric form of clarithromycin (Biaxin). The pediatric form of the drug is currently approved in 16 countries.
 Additional Third Quarter Results
 Worldwide sales of pharmaceutical and nutritional products were $991 million in the third quarter, a 19.1 percent increase from the $832 million in the third quarter of 1991. Hospital and laboratory product sales totaled $977 million in the third quarter, a 19.0 percent increase from the $822 million a year ago.
 Sales in domestic markets were $1.205 billion, an increase of 15.6 percent from the third quarter of 1991. International sales were $763 million, up 25.0 percent from last year. Research and development expenses in the third quarter increased 11.0 percent from a year ago to a record $192 million. Research and development expenditures continue to be concentrated on diagnostic and pharmaceutical products.
 Nine Month Results
 In the first nine months of 1992, total worldwide sales were $5.755 billion, up 15.3 percent from a year ago. Earnings per share for the first nine months increased 16.7 percent to $1.05 from $.90 one year ago. Net earnings were $890 million, up 15.0 percent from the $774 million for the first nine months of 1991.
 Worldwide sales of pharmaceutical and nutritional products were $2.960 billion in the first nine months, a 16.4 percent increase from $2.543 billion a year earlier. Worldwide sales of hospital and laboratory products totaled $2.795 billion in the first nine months, a 14.2 percent increase from the $2.447 billion of one year ago.
 Sales in domestic markets were $3.563 billion, an increase of 14.6 percent compared to 1991. Sales in international markets, including direct exports from the United States, were $2.192 billion, up 16.5 percent from the first nine months of 1991. Research and development expenses were $550 million, up 12.8 percent for the first nine months.
 Abbott Laboratories is a worldwide manufacturer of health care products employing 47,000 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
 Third quarter ended Sept. 30 1992 1991
 Net Sales $1,968,819,000 $1,653,693,000
 Cost of products sold 892,743,000 767,073,000
 Research & development 191,794,000 172,793,000
 Selling, general & administrative 441,066,000 361,273,000
 Provision for product withdrawal -- --
 Total operating cost and expenses 1,525,603,000 1,301,139,000
 Operating earnings 443,216,000 352,554,000
 Interest (income) expense, net 1,868,000 2,052,000
 Other (income) expense, net(A) 54,160,000 (6,322,000)
 Gain on sale of investment -- --
 Earnings before taxes 387,188,000 356,824,000
 Taxes on earnings 108,412,000 105,263,000
 Earnings before extraordinary
 Item and accounting change 278,776,000 251,561,000
 Extraordinary item, net of tax -- --
 Cumulative effect of
 accounting change, net of tax -- --
 Net earnings 278,776,000 251,561,000
 Per share amounts:
 Earnings before extraordinary
 item and accounting change $0.33 $0.29
 Extraordinary item, net of tax -- --
 Cumulative effect of
 accounting change, net of tax -- --
 Net earnings 0.33 0.29
 Average shares outstanding(B) 842,448,000 852,704,000
 Tax rate (pct.) 28.0 29.5
 Abbott Laboratories and Subsidiaries
 Consolidated Statement of Earnings
 Nine months ended Sept. 30 1992 1991
 Net sales $5,755,421,000 $4,990,325,000
 Cost of products sold 2,600,469,000 2,306,058,000
 Research & development 549,900,000 487,639,000
 Selling, general & administrative 1,332,548,000 1,100,916,000
 Provision for product withdrawal 215,000,000 --
 Total operating cost and expenses 4,697,917,000 3,894,613,000
 Operating earnings 1,057,504,000 1,095,712,000
 Interest (income) expense, net 7,715,000 13,244,000
 Other (income) expense, net(A) 67,698,000 (15,343,000)
 Gain on sale of investment (271,986,000) --
 Earnings before taxes 1,254,077,000 1,097,811,000
 Taxes on earnings 363,985,000 323,854,000
 earnings before extraordinary
 item and accounting change 890,092,000 773,957,000
 Extraordinary item, net of tax -- 128,182,000
 cumulative effect of
 accounting change, net of tax -- (128,114,000)
 Net earnings 890,092,000 774,025,000
 Per share amounts:
 Earnings before extraordinary
 item and accounting change $1.05 $0.90
 extraordinary item, net of tax -- 0.15
 Cumulative effect of
 accounting change, net of tax -- (0.15)
 Net earnings 1.05 0.90
 Average shares outstanding(B) 846,515,000 855,176,000
 Tax rate (pct.) 29.0 29.5
 (A) -- Includes net losses on foreign exchange of $61,947,000 and $99,254,000 for 1992 third quarter and nine months, respectively, and net (gain) loss on foreign exchange of $2,528,000 and ($4,250,000) for 1991 third quarter and nine months, respectively.
 (B) -- The average shares outstanding reflect the two-for-one stock split, effected in the form of a dividend, on May 1, 1992.
 -0- 10/8/92
 /CONTACT: Don Braakman of Abbott Laboratories, 708-937-1237/
 (ABT) CO: Abbott Laboratories ST: Illinois IN: HEA SU: ERN


AH -- NY029 -- 7744 10/08/92 10:22 EDT
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