Abbott earnings rise 13.5%

Healthcare products maker Abbott Laboratories last night reported a 13.5 per cent rise in fourth-quarter earnings, meeting Wall Street estimates, with strong sales increases in US pharmaceuticals and hospital products. Abbott, which employs 1,300 people in Ireland, posted net income of $753 million (#802 million), or 48 US cents a share, compared with $664 million, or 43 US cents a share, in the same period last year. Worldwide sales for the fourth quarter were $3.70 billion, up almost 6.8 per cent from $3.47 billion last year.