Abbott Laboratories said its third-quarter sales were in line with Wall Street forecasts and that it had slightly changed the terms of a deal to sell generic drugs to Mylan Inc. Abbott on Wednesday said sales from continuing and discontinued operations rose 4.7 percent to $5.6 billion in the third quarter. That included generic medicines, now considered discontinued products, which will be sold to Mylan.
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products. Shares of ABT traded higher by 2.24% or $0.93/share to $42.39. In the past year, the shares have traded as low as $35.65 and as high as $44.20. On average, 4594200 shares of ABT exchange hands on a given day and today's volume is recorded at 5353073.
Mylan Inc. (Mylan) is a fully integrated global pharmaceutical company that develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals. Shares of MYL traded higher by 3.45% or $1.735/share to $52.04. In the past year, the shares have traded as low as $36.97 and as high as $57.52. On average, 4954920 shares of MYL exchange hands on a given day and today's volume is recorded at 5281961.
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