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 ABBOTT PARK, Ill., Jan. 17 /PRNewswire/ -- Abbott Laboratories (NYSE: ABT) achieved record sales and earnings for both the year and quarter ended Dec. 31, 1993.
 Worldwide sales in 1993 increased 7.1 percent to $8.408 billion from $7.852 billion a year earlier. Earnings per share rose to $1.69, up 15.0 percent from $1.47 in 1992. Total sales were unfavorably impacted 2.4 percent due to the effect of the relatively stronger U.S. dollar.
 Pretax earnings climbed 11.8 percent to $1.943 billion from $1.739 billion last year. Net earnings were $1.399 billion, an increase of 12.9 percent from $1.239 billion in 1992. Research and development spending in 1993 increased by 14.1 percent to $881 million.
 "I'm pleased by our strong performance in 1993, particularly in light of the many changes occurring in the health care industry," said Duane L. Burnham, chairman and chief executive officer. "In each of our four businesses -- pharmaceutical, nutritional, hospital and diagnostic products -- growth was driven by new product introductions and volume gains," he said.
 "Because of our tradition of innovation, Abbott is in a unique position to contribute to worldwide efforts to deliver quality health care at an affordable cost. Innovation is the key to achieve true reform in health care systems. We must work together to ensure that the ability to innovate is not jeopardized in the United States and elsewhere as change is evaluated," Burnham said.
 Sales of pharmaceutical and nutritional products were $4.389 billion in 1993 compared with $4.025 billion a year ago, an increase of 9.0 percent. Sales of hospital and laboratory products were $4.019 billion, up 5.0 percent from the $3.827 billion reported in 1992.
 Sales in domestic markets were $5.271 billion in 1993, an increase of 8.7 percent from the $4.851 billion in 1992. Sales in international markets, including direct exports from the U.S., were $3.137 billion in 1993, an increase of 4.5 percent from the $3.001 billion reported in 1992, and were unfavorably impacted 6.4 percent due to the effect of the relatively stronger U.S. dollar.
 During the year, the company increased the quarterly common dividend for the 21st consecutive year to 17 cents per share, up 13.3 percent.
 Sales were $2.228 billion compared with $2.097 billion, an increase of 6.3 percent from the fourth quarter of 1992. Earnings per share for the fourth quarter were 48 cents, an increase of 14.3 percent from 42 cents in the fourth quarter of 1992. Pretax earnings in the fourth quarter increased 12.1 percent to $543 million from $485 million last year. Net earnings were $391 million, up 12.1 percent from $349 million a year ago.
 Worldwide sales of pharmaceutical and nutritional products for the fourth quarter were $1.178 billion, up 10.7 percent over the comparable 1992 period.
 Worldwide sales of hospital and laboratory products totaled $1.050 billion in the fourth quarter, an increase of 1.7 percent from one year ago.
 Sales in domestic markets were $1.407 billion, an increase of 9.2 percent from the fourth quarter of 1992. International sales were $821 million, up 1.6 percent from last year, and were unfavorably impacted 7.8 percent due to the effect of the relatively stronger U.S. dollar.
 Abbott achieved excellent growth in its worldwide pharmaceutical business, led by the success of Biaxin (clarithromycin), a broad spectrum anti-infective, and Hytrin, a once-a-day alpha blocker.
 In September 1993, Hytrin, which is used for the treatment of hypertension, received U.S. Food and Drug Administration (FDA) clearance for use in treating symptoms of benign prostatic hyperplasia (BPH), an enlargement of the prostate. The drug continues to gain momentum in international markets for the BPH indication, with recent launches in several European countries, including the United Kingdom and Germany.
 In late 1993, Biaxin, which is used for the treatment of respiratory, skin and soft tissue infections, received FDA clearance for use in treating Mycobacterium avium complex (MAC), a bacterial infection common in those with weakened immune systems, particularly patients who have AIDS or cancer. The MAC indication is being pursued internationally, and received approval in France in 1993.
 The company saw growth in the worldwide in vitro diagnostics business, driven by the success of the IMx automated immunoassay system and new product launches in hematology, including the Cell-Dyn 3500. The company's focus is on developing automated diagnostic instruments and tests that provide rapid, highly accurate results and help reduce labor costs in the lab. In mid 1993, the company announced a new immunoassay system called AxSYM, which is targeted at labs running 100 to 500 tests daily and engineered to simplify laboratory workflow and reduce laboratory labor costs by as much as 60 percent. Launch of AxSYM is currently under way in major markets worldwide.
 Abbott launched important new nutritional products for infants, children and adults. The company expanded its line of disease-specific nutritionals with the 1993 introduction of Advera, a medical nutritional food designed for people with HIV infection or AIDS. The product has been introduced in the U.S. and the United Kingdom, and is expected to be launched in several additional markets in 1994.
 Also in 1993, Abbott introduced Isomil DF (Diarrhea Formulation) Soy Formula for Diarrhea, the first infant formula clinically shown to shorten the duration of diarrhea in infants, and Pedialyte Bubble Gum Flavor, a better-tasting oral electrolyte maintenance solution for preventing dehydration due to diarrhea. The company continues to devote research and development efforts to nutrition in the belief that appropriate nutritional intervention can save lives, improve medical therapy and lower overall health care costs.
 The company further expanded the hospital products business by strengthening its anesthesia and pain management franchises. During 1993, Abbott introduced two generic inhalation anesthetics, isoflurane and enflurane, in the U.S. Both products have been marketed internationally by Abbott under the trade names Ethrane and Forane.
 The company's LifeShield infection control system for use in hospitals continued to gain excellent market acceptance. LifeShield is the most comprehensive needlestick prevention system available.
 Also in 1993, Abbott began marketing the vial-packaged form and the first pre-mix version of dobutamine, a widely used cardiovascular drug.
 In December 1993, Abbott and SmithKline Beecham Pharmaceuticals signed an agreement making Abbott the exclusive marketer and distributor of several SmithKline Beecham hospital injectable antibiotics. The addition of these drugs complements Abbott's already extensive line of multi-source injectable products.
 Abbott continues to make significant progress in shifting its hospital-focused product mix to technology-based products that help hospital customers lower costs and improve productivity.
 The company's corporate marketing efforts were expanded with the signing of a multiyear agreement with AmHS Purchasing Partners, L.P., an entity of American Healthcare Systems, one of the nation's largest healthcare alliances. The agreement spans multiple product lines. Establishing corporate partner relationships with large hospital systems such as AmHS has been an important strategic thrust for more than 10 years.
 Abbott announced the purchase of up to 20 million shares of its common stock from time to time in the open market.
 TAP Pharmaceuticals Inc., Abbott's joint venture with Takeda Chemical Industries, Ltd., of Japan, continued to experience strong sales of Lupron. The drug is used for the treatment of advanced prostate cancer and endometriosis. In 1993, TAP filed a New Drug Application in the U.S. for Prevacid (lansoprazole), a proton pump inhibitor for use in the treatment and maintenance of reflux esophagitis (heartburn), gastric and duodenal ulcers, and hypersecretory conditions.
 Abbott Laboratories is a worldwide manufacturer of health care products employing 50,000 people.
 Consolidated Statement of Earnings
 Fourth Quarter Ended Dec. 31, 1993 and 1992
 Fourth Quarter
 1993 1992
 Net Sales $2,227,997,000 $2,096,491,000
 Cost of Products Sold 947,492,000 904,804,000
 Research & Development 241,363,000 222,507,000
 Selling, General & Administrative 495,166,000 500,672,000
 Provision for Product Withdrawal 0 0
 Total Operating Cost & Expenses 1,684,021,000 1,627,983,000
 Operating Earnings 543,976,000 468,508,000
 Interest (Income) Expense, Net 3,776,000 2,996,000
 Other (Income) Expense, Net A) (3,257,000) (19,164,000)
 Gain on Sale of Investment 0 0
 Earnings Before Taxes 543,457,000 484,676,000
 Taxes on Earnings 152,168,000 135,711,000
 Net Earnings $ 391,289,000 $ 348,965,000
 Net Earnings Per Common Share $ 0.48 $ 0.42
 Average Shares Outstanding 823,324,000 836,907,000
 Tax Rate 28.0% 28.0%
 Consolidated Statement of Earnings
 Twelve Months Ended Dec. 31, 1993 and 1992
 Twelve Months Ended Dec. 31
 1993 1992
 Net Sales $8,407,843,000 $7,851,912,000
 Cost of Products Sold 3,684,727,000 3,505,273,000
 Research & Development 880,974,000 772,407,000
 Selling, General & Administrative 1,988,176,000 1,833,220,000
 Provision for Product Withdrawal (70,000,000) 215,000,000
 Total Operating Cost & Expenses 6,483,877,000 6,325,900,000
 Operating Earnings 1,923,966,000 1,526,012,000
 Interest (Income) Expense, Net 16,462,000 10,711,000
 Other (Income) Expense, Net A) (35,726,000) 48,534,000
 Gain on Sale of Investment 0 (271,986,000)
 Earnings Before Taxes 1,943,230,000 1,738,753,000
 Taxes on Earnings 544,104,000 499,696,000
 Net Earnings $1,399,126,000 $1,239,057,000
 Net Earnings Per Common Share $ 1.69 $ 1.47
 Average Shares Outstanding 828,988,000 844,122,000
 Tax Rate 28.0% 28.7%
 A) Includes net losses on foreign exchange of $10,304,000 and $41,298,000 for 1993 fourth quarter and twelve months, respectively, and net (gain) loss on foreign exchange of $(6,049,000) and $93,205,000 for 1992 fourth quarter and twelve months, respectively.
 -0- 1/17/94
 /CONTACT: Don Braakman, 708-937-1237, or Marc Bertaud,708-938-8848, both of Abbott Laboratories/

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

JG-CB -- NY030 -- 1264 01/17/94 10:48 EST
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Date:Jan 17, 1994

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