Abbott Labs (ABT) China Pediatric Nutrition Sales Less Than $500M

Wells Fargo today maintained an Outperform rating on Abbott Labs (NYSE: ABT). Comments follow news Abbott was among foreign providers of infant milk named in a China antitrust investigation. Analyst Larry Biegelsen noted that Aboott's exposure to in China is less than 3% of overall sales.

"While this is a concern for ABT and its competitors in the market, we believe that the diversified nature of ABT's business/markets and its relatively lower exposure in the Chinese infant formula market help to minimize risk to the overall company," said Biegelsen.

"ABT's OUS pediatric nutrition sales represented about 10% of its total 2012 sales. We estimate that ABT's infant formula sales in China is <$500M, translating to <3% of total ABT sales."

For an analyst ratings summary and ratings history on Abbott Labs (NYSE: ABT) click here. For more ratings news on Abbott Labs click here.

Shares of Abbott Labs closed at $34.86 yesterday.

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