Abbott Profit Rises 3% on Arthritis Drug Sales

Abbott Laboratories Inc. reported a 3% first-quarter profit gain and sharply higher sales for Humira, the rheumatoid arthritis treatment it now forecasts to exceed $1 billion in sales next year.

Net income reported by the North Chicago, Ill.-based company for January through March were $822.9 million, or 52 cents a share, up from $801 million, or 51 cents, a year earlier.

Abbott shares fell 43 cents to $42.32 on the New York Stock Exchange.