Abbott warns against further cuts to healthcare

ABBOTT Laboratories — one of the longest-serving foreign multinational companies with a presence in the state — has warned that further Government healthcare spending cuts could hamper its financial position here, after seeing pre-tax profits in its Irish operations fall by €9 million last year.

According to latest accounts, Abbott Laboratories (Ireland) made a pre-tax profit of just under €4.6m last year; compared to a profit of €13.7m in 2008.

After-tax profits fell by nearly 70% to €3.7m.