Abbott Laboratories ABT
Q3 2012 Earnings Call Transcript

Transcript Call Date 10/17/2012

Operator: Good morning and thank for standing by. Welcome to Abbott's Third Quarter 2012 Earnings Conference Call. All participants will be able to listen-only until the question-and-answer portion of this call. Should you become disconnected throughout this conference call, please dial 1-773-756-4622 and reference the Abbott earnings call.

This call is being recorded by Abbott. With the exception of any participant's questions asked during the question-and-answer session, the entire call including the question-and-answer session is material copyrighted by Abbott. It cannot be recorded or rebroadcast without Abbott's expressed written permission.

I would now like to introduce Mr. John Thomas, Vice President, Investor Relations and Public Affairs.

John B. Thomas - VP, IR and Public Affairs: Good morning, and thanks for joining us. Today, we'll discuss our third quarter ongoing earnings results as well as provide new information regarding the separation of Abbott's proprietary pharmaceutical business into a new independent company called AbbVie.

Joining me on today's call is Miles White, Chairman of the Board and Chief Executive Officer of Abbott; Tom Freyman, Executive Vice President, Finance and Chief Financial Officer of Abbott; Rick Gonzalez, who will become Chairman of the Board and Chief Executive Officer of AbbVie, Bill Chase who'll become Executive Vice President, Finance and Chief Financial Officer of AbbVie; and Laura Schumacher, who will be Executive Vice President and General Counsel of AbbVie and head of a number of corporate functions including licensing and acquisitions external affairs and investor relations. Also joining on today's call is (Brian York) who will become the new Head of Investor Relations at Abbott, post separation. Brian has been with Abbott in numerous financial roles for 15 years most recently as controller of our Diagnostics division. Larry Peepo who is also on today's call will remain Divisional Vice President of Investor Relations at Abbott. I will be moving over to AbbVie, to head Investor Relations and Public Affairs.

Today, Miles will begin with an update on the separation, as well as our outlook for the new Abbott. Tom will provide a brief overview of our third quarter performance, and then provide some additional context for how we're planning to launch two new independent companies in January of next year, including their respective capital structures, as well as annual dividends. They'll also provide some additional detail on our 2013 for the new Abbott.

Following Miles, Tom and Rick, we'll provide an overview of AbbVie and its future outlook and Bill will cover AbbVie's third quarter results and provide some further context on 2013. Following our comments as we normally do, we'll take any questions that you might have.

Before we get started some statements maybe forward-looking for purposes of the Private Securities Litigation Reform Act of 1995, including the planned separation of the research-based pharmaceutical company from the diversified medical products company, and the expected financial results of the two companies after the separation.

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