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ABBOTT IN STRONG POSITION FOR FUTURE GROWTH; ELECTS ADDISON BARRY RAND OF XEROX TO BOARD OF DIRECTORS

 ABBOTT IN STRONG POSITION FOR FUTURE GROWTH;
 ELECTS ADDISON BARRY RAND OF XEROX TO BOARD OF DIRECTORS
 ABBOTT PARK, Ill., April 10 /PRNewswire/ -- All of Abbott's major businesses are well positioned for future growth, Thomas R. Hodgson, president and chief operating officer, told shareholders today at the corporation's annual meeting.
 Hodgson stated that Abbott's major businesses -- pharmaceuticals, diagnostics, hospital products, and nutritionals -- all contributed to the company's strong performance in 1991. "While our 1991 financial performance is important," Hodgson said, "What's more important is our progress in positioning Abbott for future growth. 1991 was a particularly successful year in this regard."
 Abbott expects each of its divisions to contribute to future growth for the following reasons:
 -- Excellent market positions in attractive growth markets;
 -- Strong product lines, continually renewed with a flow of new products;
 -- Continued emphasis on productivity improvement;
 -- A major commitment to make investments that support future growth
 -- particularly in R&D and sales and marketing.
 Duane L. Burnham, chairman and chief executive officer, presided over the annual meeting that was attended by approximately 1,000 shareholders. During the meeting, shareholders defeated a proposal requesting a report on the corporation's operations in South Africa and ratified the selection of Arthur Andersen and Company as independent public accountants for 1992.
 Addison Barry Rand, executive vice president of Xerox Corp., was elected to the Abbott board of directors by the corporation's shareholders at the annual meeting.
 Rand, 46, joined Xerox in 1968 and was appointed to his present position in 1992. He serves as a director of Honeywell, Inc., the U.S. Chamber of Commerce, and the Industrial Management Council; he is also a member of the board of overseers of the Rochester Philharmonic Orchestra, and the Stanford University Graduate School of Business Advisory Council.
 Also elected during the annual meeting were 12 incumbent directors. They are:
 -- K. Frank Austen, M.D., professor of medicine,
 Harvard Medical School;
 -- Duane L. Burnham, chairman and chief executive
 officer, Abbott Laboratories;
 -- H. Laurance Fuller, chairman, president and
 chief executive officer, Amoco Corporation;
 -- Bernard J. Hayhoe, former British member of Parliament;
 -- Thomas R. Hodgson, president and chief operating officer,
 Abbott Laboratories;
 -- David A. Jones, chairman and chief executive officer, Humana
 Inc.;
 -- Boone Powell Jr., president and chief executive officer, Baylor
 Health Care System and Baylor University Medical Center, and
 vice president, Baylor University;
 -- Arthur E. Rasmussen, director and chairman of the Executive
 Committee, Household International, Inc.;
 -- W. Ann Reynolds, Ph.D., chancellor, The City University of New
 York;
 -- William D. Smithburg, chairman, president and
 chief executive officer, The Quaker Oats Company;
 -- John R. Walter, chairman and chief executive officer, R.R.
 Donnelley & Sons Company; and
 -- William L. Weiss, chairman and chief executive
 officer, Ameritech Corp.
 Abbott Laboratories is a worldwide manufacturer of health care products employing some 46,000 people worldwide. In 1991, the company's sales and net earnings were $6.9 billion and $1.1 billion respectively, with earnings per share of $2.55.
 -0- 4/10/92
 /CONTACT: Catherine Babington of Abbott Laboratories, 708-937-8943/
 (ABT) CO: Abbott Laboratories ST: Illinois IN: HEA SU:


KD -- NY036 -- 7227 04/10/92 12:23 EDT
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Publication:PR Newswire
Date:Apr 10, 1992
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