Abbott Laboratories (ABT) isn't interested in large-scale mergers, but instead will pursue more modest-sized acquisitions, the health-care products company's chief said Wednesday.

Chief Executive Miles White told a Goldman Sachs investor conference in New York the company isn't interested in a merger of equals or a "large, mega-deal type thing."

But look for the Abbott Park, Ill., company to do deals to build up the non-pharmaceutical side of its business, White said. Abbott also makes medical devices, nutritional products, diagnostics and other non-drug products.

Still, White said Wednesday he wouldn't rule out making a drug acquisition, if the right opportunity came up. The Wall Street Journal previously reported that Abbott expressed preliminary interest in a deal with Wyeth (WYE) late last year but chose not to pursue it; Wyeth subsequently agreed to be acquired by Pfizer Inc. (PFE). White hasn't publicly confirmed that but said in April Abbott didn't "compete" for Wyeth.

White indicated an interest in building up Abbott's drug business in emerging markets, possibly including low-cost, unpatented drugs, or "branded generics."

"We're very interested in expanding there as well," he said.

Separately, White and his lieutenants played down the significance of a large U.S. government study that includes its cholesterol drug TriCor, which is scheduled to end this month. Some analysts have suggested that the study results could raise questions about TriCor's ability to prevent heart attacks and related disease. Results could be released later this year.

White said the design of the government study, titled "Accord," would make it difficult to draw definitive conclusions about TriCor. But he acknowledged the risk that the results could be subject to "misperceptions." The study also would have implications for a follow-up drug, Trilipix, as well as a single-dose combination of Trilipix with AstraZeneca PLC's (AZN) Crestor cholesterol drug.

White also reiterated he was confident in the long-term sales growth prospects for Abbott's blockbuster drug Humira, which treats rheumatoid arthritis and other conditions. Humira sales growth took a hit in the first quarter, which has hurt Abbott's share price, but White said Wednesday Humira is "growing at a very healthy rate."

Abbott is now testing a once-monthly dosing regimen for Humira, which could help its competitive position against newer, rival drugs including Johnson & Johnson's (JNJ) Simponi, which is given monthly. Humira is currently taken every other week.

White also said that he was confident that Congress will ultimately enact a health-care reform package that is "constructive and balanced," but that the process of arriving at a final bill will be a "rocky ride."

Shares of Abbott traded recently at $44.30, down 5 cents.

-By Peter Loftus, Dow Jones Newswires; 215-656-8289; peter.loftus@dowjones.com