Press Release: Abbott Announces Termination of Contract with GE

Abbott Announces Termination of Contract with GE Abbott Park, Illinois, July July 11, 2007 — Abbott and GE have mutually agreed to terminate their contract for the sale of Abbott’s core laboratory and point-of-care diagnostics businesses to GE. The two companies were unable to agree on final terms and conditions of the proposed sale. This has no impact on Abbott’s previously issued earnings-per-share guidance, excluding specified items, for the full-year 2007 or the second quarter. Abbott’s earnings outlook for 2008 also remains unchanged. About Abbott Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs 65,000 people and markets its products in more than 130 countries.

Suggested Articles

Galecto picked up $64 million to push its lead lung disease treatment toward an approval in Europe and fund midstage studies for its other programs.

The financing, which attracted support from Roche Venture Fund, sets Palladio up to test its vasopressin V2 receptor antagonist in a kidney disease.

A new atlas of 500,000 cardiac cells could help researchers better understand how a healthy heart operates—and what goes wrong in heart disease.