Abbott Laboratories Inc said first-quarter profit rose, fueled by one-time gains and growing demand for its Xience stent and Humira arthritis drug, but overall sales were shy of expectations.

The suburban Chicago drugmaker said on Wednesday that it had earned $1.44 billion, or 92 cents per share, compared with $938 million, or 60 cents per share, a year earlier.

It had a gain of $797 million related to derecognition of a contingent liability, and the company also received contractual payments from longtime partner Takeda Pharmaceutical Co Ltd <4502.T>.

Excluding special items, the company earned 73 cents per shares. Analysts on average expected 70 cents, according to Reuters Estimates.

Global sales fell slightly to $6.72 billion in the quarter, below the Reuters Estimates forecast of $7.07 billion. Abbott said sales were badly hurt by the stronger dollar, which reduces the value of overseas sales.

The company said it still expected full-year 2009 earnings of $3.65 to $3.70 per share, excluding special items. It forecast a profit of 87 cents to 89 cents per share for the second quarter.

(Reporting by Ransdell Pierson; Editing by Lisa Von Ahn)

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