Oct 21 (Reuters) – Abbott Laboratories said it plans to separate its nutrition business into an independent, publicly traded company, as the medtech giant looks to focus on its diagnostics and medical device businesses.
“This separation will benefit both companies, setting each one up for maximum success in its respective market,” said CEO Robert Ford.
The separation is expected to be completed by the end of 2027, the company said.
Abbott now expects 2026 sales growth of about 6%, compared with its prior expectation of between 6.5% and 7.5%.
The company reported quarterly adjusted profit per share of $1.42 — in line with analysts’ average estimate, according to data compiled by LSEG.
Abbott shares fell about 2% in premarket trading.
(Reporting by Padmanabhan Ananthan and Christy Santhosh in Bengaluru; Editing by Joyjeet Das)
