HEALTH CARE
From Times Staff and Wire Reports
Abbott to Take Charge Against Earnings: Abbott Laboratories said it will take a charge against second-quarter earnings to cover costs associated with removing its Omniflox antibiotic from the market. The confirmation as well as speculation that the charge would be hefty sent Abbott stock plunging $4.125 a share to $27.75 on the New York Stock Exchange. Abbott voluntarily withdrew the new drug Friday after reports of three deaths and dozens of severe adverse reactions. Spokeswoman Catherine Babington said the company had not determined the amount of the charge.
