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.
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.