NORTH CHICAGO, Ill. (AP) -- Abbott Laboratories said Tuesday it opened a pharmaceutical analytical research laboratory in Singapore, its first such research and development center in Southeast Asia.
The U.S.-based company said it will use the facility to conduct studies on drug stability for new pharmaceutical compounds. It will also be used to support global regulatory requirements for new products.
"Abbott has continually increased its investment in research and development over the last decade, resulting in a promising pipeline," said Dr. John M. Leonard, senior vice president of pharmaceuticals, research and development.
Shares of Abbott fell 1 cent to $49.91 in afternoon trading.