Abbott Laboratories, maker of the rheumatoid arthritis drug Humira, said it will cut about 1,900 jobs as part of a restructuring of its pharmaceutical business.
The health law (Obamacare) cost Abbott $200 million last year in increased rebates to Medicaid, the U.S.-backed health plan for the poor, Adelle Infante, an Abbott spokeswoman, said in an e-mail. That will continue in 2011 and the company expects to pay an additional $200 million for the drugmaker tax and discounts the law requires for patients on Medicare, the government plan for the elderly, Chief Financial Officer Thomas Freyman said during the conference call.
More HERE
