Abbott Profit Boosted by Key Drug Sales

Abbott Laboratories (ABT Quote) matched Wall Street's second-quarter earnings estimate Wednesday with sales for a key rheumatoid arthritis drug topping the Street's expectations.

The maker of diagnostics, medical devices and drugs reported net income for the June quarter of $1.28 billion, or 83 cents a share, compared with net income of $1.32 billion, or 85 cents a share, in the year-ago quarter.

Excluding special items, Abbott reported a 6% increase in earnings to 89 cents a share in the second quarter, in line with the Street's consensus estimate. ...