Abbott Laboratories (NYSE: ABT) in the first quarter of FY 17  has reported the adjusted earnings per share of 48 cents, beating the analysts’ estimates for the adjusted earnings per share of 43 cents. The company had reported the adjusted revenue growth of 29.7 percent to $6.34 billion in the first quarter of FY 17, beating the analysts’ estimates for revenue of $6.11 billion.

In the first quarter, Abbott Laboratories had received the FDA approval for MRI-conditional labeling for both the Assurity MRI pacemaker and the Tendril MRI pacing lead.

For the full year 2017, Abbott Laboratories expects the adjusted diluted earnings per share from continuing operations to be in the range of $2.40 to $2.50. ABT forecasts the net specified items for the full-year 2017 of approximately $1.48 per share. The specified items include acquisition-related expenses, intangible amortization expense, charges associated with cost reduction initiatives and other expenses, partially offset by a gain on the sale of the AMO business.

Moreover, Abbott Laboratories has declared the company’s quarterly dividend of $0.265 per share. The company’s cash dividend is payable May 15th, 2017, to shareholders of record at the close of business on April 14th, 2017.

On the other hand, Abbott Laboratories has been trying for months to get out of its agreement to buy embattled medical-test maker Alere Inc., and now the two sides agreed to cancel their lawsuits and move ahead with a takeover at a reduced price. Abbott Laboratories will now pay $51 a share for Alere ($5.3 billion excluding debt), about a 9 percent reduction from its original offer. The deal was originally expected to add more than 20 cents to ABT’s adjusted earnings per share by 2018 and yield about $500 million in synergies by 2019, benefits that are likely more or less intact. Further ABT has recently closed its concurrent $30 billion purchase of St. Jude Medical and raised the cash, easing the concerns that it was overstretching its management team and balance sheet with two large deals. Part of its cash infusion has come from a divestiture of its stake in Mylan NV, a holdover from a past divestiture that had become an overhang amid that company’s drug pricing woes. Hence despite the decent results, the stock lost over 0.3% this morning (as of 9:58AM EDT April 19th, 2017; Source: Google finance). Abbott Laboratories stock has risen 12.8% in this year to date (source: Google Finance).