share: digg facebook twitter Abbott, based in North Chicago, Ill., also reported a 66 percent decline in third-quarter net income as it set aside $1.5 billion for legal reserve related to an investigation into its marketing of the drug Depakote. Excluding a big charge to set aside a $1.5 billion pretax legal reserve related to the Depakote investigation, earnings were $1.18 per share, which beat analyst expectations by a penny. Abbott has been one of the pharmaceutical industry's rare success stories in recent years, largely thanks to double-digit growth of multibillion-dollar, anti-inflammatory drug Humira. Humira, which treats rheumatoid arthritis and other inflammatory disease, is scheduled to lose patent protection in 2016.

Topics:  north chicago   ill   excluding   abbott   depakote   humira   drug   set   reserve   legal   related   share   investigation   

 

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