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Business Description
Abbott Laboratories (ABT)engages in the discovery, development, manufacture, and sale of a line of health care products principally in the United States and Canada. The company operates through three segments: Pharmaceutical Products, Diagnostic Products, and Ross Products. The Pharmaceutical Products segment's products include a line of adult and pediatric pharmaceuticals, which are sold primarily on the prescription, or recommendation, of physicians. This segment sells its products directly to wholesalers, government agencies, health care facilities, and independent retailers in the United States through company-owned distribution centers and public warehouses. The Diagnostic Products segment's products consist of diagnostic systems and tests for blood banks, hospitals, commercial laboratories, alternate-care testing sites, plasma protein therapeutic companies, and consumers. These products are sold directly to hospitals, laboratories, clinics, and physicians' offices. The Ross Products segment's products include a line of pediatric and adult nutritionals. This segment sells its products directly to physicians, health care facilities, and government agencies through wholesalers. Abbott Laboratories has a strategic alliance with Myriad Genetics, Inc. in pharmacogenetics that would focus on identifying human genetic variation around drug targets in various stages of development. The company was founded by Wallace Calvin Abbott in 1888. Abbott Laboratories is based in Abbott Park, Illinois.

Financial Information
ABT is engaged in the discovery, development, manufacture and sale of a broad line of health care products and services, including diagnostic, pharmaceutical and hospital products. For the six months ended 6/30/02, sales rose 11% to $8.50 billion. Net income totaled $1.45 billion, up from $305.4 million. Revenues reflect unit growth and the acquisition of BASF. Earnings reflect a redcution in acquired in-process research and development costs.