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Abbott Q2

This article was originally published in The Tan Sheet

Executive Summary

July shipments of Ensure in "new, break-resistant and re-closable bottles" expected to drive category expansion and increase market share, firm says in July 10 Q2 sales and earnings announcement. Although Ross Products division's revenue fell 7.1% to $478 mil. in second quarter due to negative impact of "pricing pressures in the institutional segment of medical nutritionals" and recent divestitures, Abbott anticipates Ross' overall sales in second half of 2003 will be flat or slightly up. Overall, Abbott reported Q2 earnings down 58% to $247 mil. due to one-time $622 mil. charge taken in the quarter to settle charges against Ross' enteral nutrition division (1"The Tan Sheet" Jan. 30, 2003, In Brief)...

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