Saturday, March 3, 2012

Abbott's White tells shareholders he feels their pain

Abbott Laboratories Chairman and Chief Executive Miles White facedcriticism over the company's weak share price along with questionsabout the affordability and availability of its AIDS drug in Africaat the health care giant's annual meeting Friday.

White, who touted record 2005 Abbott sales and earnings,acknowledged the share price remains a challenge. Abbott's shares areup 8 percent for the year, but that follows a more than 15 percentdrop last year.

"We are just as frustrated and disappointed as all of you with ourstock performance," White said. "Unfortunately we can't control thestock market. What we can do is continue to do the right things forthe company and …

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