Abbott Laboratories will make new investments in US manufacturing, with the impact of tariffs on medical devices and diagnostics looming over the industry.

Medical device maker Abbott Laboratories maintained its annual profit forecast on Wednesday and said it expected the U.S. tariffs to hit earnings by a "few hundred million dollars". Shares rose 6% in morning trade,

Abbott Laboratories forecasts an impact of "a few hundred million dollars" this year from Trump administration tariffs, Chief Executive Robert Ford told analysts Wednesday. The healthcare company sees the costs starting in the third quarter.