Abbott posts 16% fall in profit, suspends 2020 forecast on coronavirus concerns

(Reuters) - Abbott Laboratories Inc posted a 16% drop in quarterly profit on Thursday partly due to a tax expense and suspended its full-year forecast citing the uncertainty caused by the coronavirus outbreak. The company's net earnings fell to $564 million, or 31 cents per share, in the first quarter ended March 31, from $672 million, or 38 cents per share, a year earlier.Net sales rose to $7.73 billion from $7.54 billion.Abbott has so far launched three coronavirus tests in the U.S.,..