| BUSINESS INFORMATION |
Abbott slates spin-off of its hospital unit Abbott Laboratories intends to spin off much of its hospital products businesses into an independent company with about $2.5 billion in annual sales. The new company will include medication delivery systems and generic and intensive-care pharmaceuticals. Abbott will then focus on its pharmaceutical, medical products, and nutritionals businesses, with combined sales of more than $15 billion per year. The spin-off is to be structured as a tax-free distribution to Abbott shareholders and is expected to be completed in the first half of 2004. |
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