Abbott’s Irish subsidiary’s pre-tax profits fall 39%

PRE-TAX profits at the main Irish arm of medical and pharmaceutical product giant Abbott last year fell 39% to €240.1m.

Accounts just filed with the Companies Registration Office by US-owned Abbott Laboratories Vascular Enterprises Ltd show the company saw a drop in revenues and royalty income.

Revenues at the Dublin-registered firm decreased by 6% from €275.6m to €258.4m, with cost of sales increasing from €224.4m to €265.7m in the 13 months to the end of December 31, 2010.