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Abbott profit rises on Humira demand, special gain


    NEW YORK (Reuters) - Abbott Laboratories Inc on Wednesday said third-quarter profit rose 37 percent on strong demand for its Humira arthritis drug and Xience heart stent and gains from a settlement with Medtronic Inc .

    The diversified health care company said it earned $1.48 billion, or 95 cents per share, compared with $1.09 billion, or 69 cents per share, in the year-earlier period.

    Excluding special items, the suburban Chicago company earned 92 cents per share. On that basis, analysts on average expected 90 cents per share, according to Thomson Reuters I/B/E/S.

    Sales rose 3.5 percent to $7.78 billion, in line with Wall Street expectations for $7.76 billion. Revenue would have risen 8.4 percent if not for the stronger dollar, which lowers the value of overseas sales.

    Citing strong results so far this year, Abbott nudged up its full-year 2009 profit forecast to between $3.70 and $3.72 per share. Its earlier view was $3.65 to $3.70 per share.

    Abbott shares were up 2.4 percent in premarket trade.

    (Reporting by Ransdell Pierson; editing by John Wallace)