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ABBOTT REPORTS INCREASE IN SALES, EARNINGS IN SECOND QUARTER; EARNINGS PER SHARE UP 13.5 PERCENT

 ABBOTT PARK, Ill., July 9 /PRNewswire/ -- Abbott Laboratories (NYSE: ABT) today reported an increase in sales and earnings for both the second quarter and first half ended June 30, 1993.
 Worldwide sales for the second quarter were $2.073 billion, up 8.7 percent from $1.909 billion in the second quarter of 1992. Earnings per share for the quarter increased 13.5 percent to 42 cents. Net earnings were up 9.1 percent to $346 million.
 "We are encouraged by an excellent second quarter performance," said Duane L. Burnham, chairman and chief executive officer. "We are pleased with the continued growth of our worldwide pharmaceutical business, led by clarithromycin, a broad-spectrum anti-infective. Our hospital products business continues to benefit from its expanding drug delivery and anesthesia lines, and our medical nutritional business also achieved good growth."
 Contributing to Abbott's second quarter results, Burnham said, were higher unit volume, improved product mix and increased productivity.
 Sales of pharmaceutical and nutritional products were $1.069 billion in the second quarter, a 10.0 percent increase from $972 million in the second quarter of 1992. Hospital and laboratory product sales totaled $1.004 billion in the second quarter, a 7.3 percent increase from $937 million one year ago.
 Sales in domestic markets were $1.293 billion, up 9.6 percent from $1.181 billion in the second quarter of 1992. International sales, including direct exports from the U.S., were $780 million, a 7.1 percent increase from $728 million recorded one year ago.
 In the first half of 1993, worldwide sales were $4.119 billion, up 8.8 percent from $3.787 billion a year earlier. First half earnings per share increased 15.3 percent to 83 cents from 72 cents a year ago. Net earnings were $692 million, up 13.1 percent from $611 million in the first half of 1992.
 Worldwide sales of pharmaceutical and nutritional products were $2.152 billion in the first half, a 9.3 percent increase from $1.969 billion a year earlier. Worldwide sales of hospital and laboratory products totaled $1.967 billion in the first half, an 8.2 percent increase from $1.818 billion one year ago.
 Sales in domestic markets increased 9.1 percent from the same period in 1992. Sales in international markets, including direct exports from the U.S., were $1.547 billion, up 8.3 percent from the first half of 1992.
 Abbott Laboratories is a worldwide manufacturer of health care products employing 49,000 people. In 1992, the company's sales and net earnings were $7.9 billion and $1.2 billion, respectively, with earnings per share of $1.47.
 ABBOTT LABORATORIES AND SUBSIDIARIES
 Consolidated Statement of Earnings
 Periods ended Second Quarter
 June 30 1993 1992
 Net Sales $2,073,790,000 $1,908,670,000
 Cost of Products Sold 886,988,000 862,985,000
 Research & Development 212,342,000 176,598,000
 Selling, General & Administrative 555,213,000 452,944,000
 Provision for Product Withdrawal(A) (70,000,000) 215,000,000
 Total Operating Cost and Expenses 1,584,543,000 1,707,527,000
 Operating Earnings 489,247,000 201,143,000
 Interest (Income) Expense, Net 4,148,000 2,741,000
 Other (Income) Expense, Net(B) 4,426,000 12,151,000
 (Gain) on Sale of Investment 0 (271,986,000)
 Earnings Before Taxes 480,673,000 458,237,000
 Taxes on Earnings 134,589,000 141,150,000
 Net Earnings $ 346,084,000 $ 317,087,000
 Net Earnings per Common Share $ 0.42 $ 0.37
 Average Shares Outstanding 831,013,000 847,703,000
 Tax Rate 28.0 pct 30.8 pct
 Periods ended Six Months
 June 30 1993 1992
 Net Sales $4,119,403,000 $3,786,602,000
 Cost of Products Sold 1,820,163,000 1,707,726,000
 Research & Development 414,452,000 358,106,000
 Selling, General & Administrative 1,020,036,000 891,482,000
 Provision for Product Withdrawal(A) (70,000,000) 215,000,000
 Total Operating Cost and Expenses 3,184,651,000 3,172,314,000
 Operating Earnings 934,752,000 614,288,000
 Interest (Income) Expense, Net 8,632,000 5,847,000
 Other (Income) Expense, Net(B) (34,464,000) 13,538,000
 (Gain) on Sale of Investment 0 (271,986,000)
 Earnings Before Taxes 960,584,000 866,889,000
 Taxes on Earnings 268,964,000 255,573,000
 Net Earnings $ 691,620,000 $ 611,316,000
 Net Earnings per Common Share $ 0.83 $ 0.72
 Average Shares Outstanding 832,840,000 848,736,000
 Tax Rate 28.0 pct 29.5 pct
 A) During the second quarter of 1992 the company announced the voluntary withdrawal of temafloxacin from the worldwide market. During the second quarter of 1993 the company resolved various contingencies relative to this withdrawal.
 B) Includes net losses on foreign exchange of $14,892,000 and $19,158,000 for 1993 second quarter and six months, respectively, and net losses on foreign exchange of $26,542,000 and $37,307,000 for 1992 second quarter and six months, respectively.
 -0- 7/9/93
 /CONTACT: Marc Bertaud of Abbott Laboratories, 708-938-8848/
 (ABT)


CO: Abbott Laboratories ST: Illinois IN: HEA SU: ERN

LG -- NY019 -- 9828 07/09/93 10:15 EDT
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Date:Jul 9, 1993
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