SOURCE: Industrial Info Resources

October 19, 2009 07:01 ET

Baxter and Abbott Refuse to Be Toppled by Foreign Currency Headwinds, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - October 19, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Global pharmaceutical companies Baxter International Incorporated (NYSE:BAX) (Deerfield, Illinois) and Abbott Laboratories (NYSE:ABT) (Abbot Park, Illinois) this week reported earnings for the third quarter of their 2009 fiscal years. Although negative foreign exchange reduced both companies' bottom lines, Abbott and Baxter experienced year-over-year net earnings increases of 36.5% and 12%, respectively. Baxter's net income rose from $476 million in 3Q08 to $532 million in 3Q09, while Abbott's net earnings rose from $1.09 billion in 3Q08 to $1.48 billion in 3Q09.

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