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Abbott Completes Separation of Research-Based Pharmaceuticals Business

Abbott Completes Separation of Research-Based Pharmaceuticals Business 


    --  Major Milestone Marks 125(th) Anniversary of Company's Founding
    --  Continues Diverse Healthcare Leadership in Diagnostics, Medical
        Devices, Nutrition and Branded Generic Pharmaceuticals
    --  Set to Deliver Industry-Leading Growth, Expanding Margins and
        Strong Cash Flow
    --  Businesses Aligned With Long-Term Healthcare and Patient
        Trends, Particularly in Fastest-Growing Economies

ABBOTT PARK, IL, Jan. 2, 2013 /CNW Telbec/ - Abbott (NYSE: ABT) today 
announced it has completed the separation of its research-based 
pharmaceuticals business, which became AbbVie, a new independent 
biopharmaceutical company. AbbVie will begin trading independently on the New 
York Stock Exchange today under the symbol "ABBV."

On Nov. 28, 2012, Abbott's board of directors declared a special dividend 
distribution of all outstanding shares of AbbVie common stock. For every 1 
share of Abbott common shares held as of close of business on Dec. 12, 2012, 
Abbott shareholders received 1 share of AbbVie common stock on Jan. 1, 2013.

Abbott announced in October 2011 that it was separating into two independent 
companies, as its businesses evolved into two different investment identities. 
AbbVie is a research-based specialty biopharmaceuticals company with a broad 
portfolio of medicines, including leadership in immunology and virology, and a 
pipeline of breakthrough therapies. Abbott is one of the largest 
science-based, diversified healthcare companies, with market-leading offerings 
in diagnostics, medical devices, nutritionals and branded generic 
pharmaceuticals.

"We wish our colleagues at AbbVie continued success as they become part of a 
new, independent company that is already making a significant difference, 
focusing on highly specialized, market-leading therapies for some of the 
world's most difficult-to-treat diseases," said Miles D. White, chairman and 
chief executive officer, Abbott.

"Abbott has taken the most transformative action in its 125-year history," 
said Mr. White. "We have had enduring success precisely because of what we're 
doing now - reinventing ourselves for changing times and creating new ways to 
serve the millions of patients, customers, communities and shareholders who 
depend on us."

Strength Through Diversity
Abbott begins its 125(th) year with approximately $22 billion in revenues 
generated throughout 150 countries and remains one of the largest and most 
far-reaching global healthcare companies, with diversity across technologies, 
businesses and geographies.

The company is comprised of four businesses of roughly equal size - 
diagnostics, medical devices, nutritionals and branded generic 
pharmaceuticals. Abbott's businesses are all leaders in their respective 
fields and hold the top market positions across numerous categories. These 
businesses develop leading, science-based products that are meeting the needs 
of patients and consumers in the evolving global healthcare environment.

Abbott is well positioned to deliver reliable performance with 
industry-leading growth, expanding margins and strong cash flow. The company's 
businesses are aligned with long-term health trends, including the world's 
aging population, increasing prevalence of chronic disease, and improving 
access to care in fast-growing economies. Continued investment in new 
technologies is advancing Abbott's offerings in vascular health, diabetes 
care, diagnostic screening and detection, vision correction and nutrition 
science.

Revenue among Abbott's businesses is well balanced geographically, with 30 
percent generated in the United States, 30 percent from Western Europe, 
Canada, Japan and Australia, and 40 percent from the fastest-growing 
economies, including India, China, Russia and Brazil. The company's presence 
in these high-growth markets is among the most expansive of any diversified 
healthcare company and is expected to reach nearly 50 percent of sales by 2015.

About Abbott
Abbott is a global healthcare company devoted to improving life through the 
development of products and technologies that span the breadth of 
healthcare.With a portfolio of leading, science-based offerings in 
diagnostics, medical devices, nutritionals and branded generic 
pharmaceuticals, Abbott serves people in more than 150 countries and employs 
approximately 70,000 people.

In Canada, Abbott has approximately 1,500 employees working in manufacturing, 
distribution and logistics, as well as sales and marketing. Primary locations 
in Canada are in Montreal, Markham, Mississauga, Brockville, Ottawa, 
Victoriaville and Edmonton.

Visit Abbott at www.abbott.com or www.abbott.ca and connect with us on Twitter 
at @AbbottNews.

- Private Securities Litigation Reform Act of 1995 -

A Caution Concerning Forward-Looking Statements

Some statements in this news release may be forward-looking statements for 
purposes of the Private Securities Litigation Reform Act of 1995, including 
the planned separation of the research-based pharmaceutical company from the 
diversified medical products company and the expected financial results of the 
two companies after the separation. Abbott cautions that these forward-looking 
statements are subject to risks and uncertainties that may cause actual 
results to differ materially from those indicated in the forward-looking 
statements. Economic, competitive, governmental, technological and other 
factors that may affect Abbott's operations are discussed in Item 1A, "Risk 
Factors," to our Annual Report on Securities and Exchange Commission Form 10-K 
for the year ended Dec. 31, 2011 and in Item 1A, "Risk Factors," to our 
quarterly report on Securities and Exchange Commission Form 10-Q for the 
quarter ended September 30, 2012 and June 30, 2012, and are incorporated by 
reference. Abbott undertakes no obligation to release publicly any revisions 
to forward-looking statements as a result of subsequent events or 
developments, except as required by law.

Media: Hind Ounis 514-832-7349 hind.ounis@abbott.com

Scott Stoffel 847-936-9502

Scott Davies 847-938-8898

Financial: Brian Yoor 847-937-6343

Tina Ventura 847-935-9390

SOURCE: ABBOTT

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/January2013/02/c3721.html

CO: ABBOTT
ST: Illinois
NI: MTC MNA 

-0- Jan/02/2013 13:11 GMT


 
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