By Jared S. Hopkins
Abbott Laboratories forecasts an impact of "a few hundred million dollars" this year from Trump administration tariffs, Chief Executive Robert Ford told analysts Wednesday.
The healthcare company sees the costs starting in the third quarter. Ford told analysts it is too early to simply double the 2025 estimate for how tariffs might affect Abbott in future years, but the company can cover them in the near term.
Illinois-based Abbott's products include baby formula and medical devices, with some devices imported from overseas. The company is studying how to mitigate tariffs long term, and expects its global manufacturing network to help with those efforts, Ford said.
"One thing we have learned from tariffs is they don't go away, so whatever comes it stays, and it stays for a while," he said. "Look at the tariffs that went in place in 2017. They're still there."
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(END) Dow Jones Newswires
April 16, 2025 11:19 ET (15:19 GMT)
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