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Abbott Announces Termination of Contract with GE

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Published: July 16, 2007
 
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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.

According to Abbott this has no impact on its 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.

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