Abbott profit falls flat, shares take hit; No. Chicago-based medical product giant said profits fell 2.6% despite hearty Humira

Publication date: Mon, 07/27/2009
Chicago Trib July 15

Abbott profit falls flat, shares take hit; No. Chicago-based medical product giant said profits fell 2.6% despite hearty Humira sales. Abbott Labs 2nd-Q profits fell slightly on costs of an eye-care co. acquisition, certain reductions in business expenses and ongoing pressure on sales in the global economic downturn. Shares of Abbott lost over 4% of its value in morning trade, falling $2.06 to $44.43, well off 52-week high of $60.78. The No. Chicago-based med product giant, that continues to reap huge rewards from sales of its flagship rheumatoid arthritis drug Humira, said profits fell 2.6%, to $1.29B, or 83