DOW JONES NEWSWIRES
Abbott Laboratories (ABT) opened a plant that makes nutritional
products in Singapore and announced plans to open a research
facility there, capping the company's largest investment in Asia
and its biggest nutritional project.
The plant is to meet increased regional demand for pediatric
products, including its Similac formula and Pediasure brand of
nutritional items.
Abbott, which makes health-care products ranging from coronary
stents to arthritis drugs, has 11 nutritional plants globally
including the new Singapore facility, which cost $300 million.
The nutrition science research and development center will be
the focus of clinical trials and development of nutrition products
tailored to Asian dietary needs. Abbott opened a pharmaceutical
R&D facility last month in Singapore.
Abbott's sales of pediatric nutritional products jumped 14% last
year to $2.64 billion, including a 26% jump outside the U.S. That's
9% of the company's total sales.
Shares closed Wednesday at $53.62. The stock is down just 3.3%
the past year.
-By Kevin Kingsbury, Dow Jones Newswires; 201-938-2136;
kevin.kingsbury@dowjones.com