April 19 Diversified healthcare company Abbott
Laboratories reported a 29.7 percent rise in quarterly
sales on Wednesday, driven by its $25 billion acquisition of St.
Net sales of the company, which consummated its acquisition
of St. Jude Medical earlier this year, rose to $6.34 billion
from $4.89 billion.
Net profit from continuing operations came in at $843
million, or 22 cents per share, in the first quarter ended March
31, compared with $615 million, or 4 cents per share, a year
earlier. The results also reflect St. Jude's year-over-year
Last week, Abbott agreed to buy troubled diagnostics company
Alere Inc at a lower price of around $5.30 billion, down
from the about $5.80 billion announced in February last year,
ending a prolonged legal battle.
(Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by