Updated Version 1 - Abbott plans to spin off its nutrition business and lowers the sales growth forecast for 2026

Additional details on the nutrition business were added in paragraphs 1 and 2; stock price information was added in paragraph 6.

Reuters, October 21 - Abbott Laboratories (ABT.N) said it plans to spin off its nutrition business into an independent public company, as the medical technology giant aims to focus on its diagnostics and medical device businesses.

"This spinoff will benefit both companies, enabling each to achieve maximum success in their respective markets," CEO Robert Ford said.

The company said the spinoff is expected to be completed by the end of 2027.

Abbott now expects sales growth of about 6% in 2026, compared with its previous outlook of 6.5% to 7.5%.

According to data compiled by the London Stock Exchange Group (LSEG), the company reported adjusted quarterly earnings per share of $1.42, in line with analysts' average expectations.

Abbott shares fell about 2% in premarket trading.

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