Key Developments: Abbott Laboratories (ABT.N)

ABT.N on New York Stock Exchange

11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Abbott Laboratories and Fonterra to form strategic alliance
Thursday, 10 Jul 2014 02:00pm EDT 

Abbott Laboratories and Fonterra Co-operative Group:Signs agreement to develop proposed dairy farm hub in China.  Full Article

Abbott Laboratories to Acquire Veropharm
Wednesday, 25 Jun 2014 02:00am EDT 

Abbott Laboratories:To acquire Veropharm, a Russian pharmaceutical manufacturer.Acquire Limited Liability Company Garden Hills, the holding company that currently owns a controlling interest in Veropharm, for between 13.6 bln rubles and 17 bln rubles (or a range of about US$395 mln to US$495 mln) depending on Garden Hills ' share ownership of Veropharm at time of close.Abbott would also establish a manufacturing presence in Russia through its ownership of Veropharm's existing production facilities as well as a new manufacturing facility that is currently under construction by Veropharm.  Full Article

Abbott Laboratories receives CE Mark for TECNIS Symfony extended range of vision intraocular lens for cataract patients
Tuesday, 24 Jun 2014 09:00am EDT 

Abbott Laboratories:Receives CE Marking (Conformite Europeenne) in Europe for TECNIS Symfony Extended Range of Vision intraocular lens (IOL) for treatment of cataract patients who also have diminished ability to focus on near objects (presbyopia).Standard IOLs can be used in cataract treatment to improve distance vision.But TECNIS Symfony IOL is first-of-its kind lens that is intended to provide patients continuous range of vision including far, intermediate and near distances with reduced incidence of halo and glare comparable to monofocal lens (1).This IOL is not approved for use in the United States.  Full Article

Abbott Laboratories to acquire Veropharm
Monday, 23 Jun 2014 04:00pm EDT 

Abbott Laboratories:Definitive agreement to acquire Veropharm, Russian pharmaceutical manufacturer.Under the terms of the agreement, Abbott will acquire Limited Liability Company Garden Hills, holding company that currently owns a controlling interest in Veropharm.Consideration is between 13.6 bln Russian roubles and 17 bln Russian roubles depending on Garden Hills' share ownership of Veropharm at time of close.Garden Hills currently owns more than 80 percent of Veropharm but is expected to own more than 95 percent by the time the transaction closes.Pursuant to the agreement, Abbott will also assume net debt of 4.7 billion Russian roubles.Through this acquisition Abbott will obtain a portfolio of medicines that is well aligned with its current pharmaceutical therapeutic areas of focus in women's health, central nervous system, cardiovascular, and gastroenterology, while also adding an offering in the field of oncology.Abbott expects the acquisition to add about $150 mln U.S. dollars in sales in 2015.Transaction is expected to close in the fourth quarter and will not impact Abbott's ongoing earnings-per-share guidance for 2014.  Full Article

Abbott Laboratories declares quarterly dividend
Friday, 13 Jun 2014 10:05am EDT 

Abbott Laboratories:Declares quarterly common dividend of 22 cents per share.Payable Aug. 15, 2014, to shareholders of record at the close of business on July 15, 2014.  Full Article

Abbott announces acquisition of CFR Pharmaceuticals
Friday, 16 May 2014 08:11am EDT 

Abbott Laboratories:To acquire Latin American pharmaceutical company CFR Pharmaceuticals.Abbott to acquire the holding company that indirectly owns about 73pct of CFR Pharmaceuticals and will conduct a public cash tender offer for all of the outstanding shares of CFR.Assuming all publicly-held shares are tendered, the total purchase price would be about $2.9 bin, plus the assumption of net debt of about $430 mln.Assuming the transaction closes as anticipated by the end of the third quarter of 2014.Barclays advised Abbott on the transaction; Deutsche Bank Securities Inc. advised CFR.  Full Article

Abbott Laboratories preliminary data show testing platform may identify infections
Monday, 12 May 2014 08:30am EDT 

Abbott Laboratories:Says initial result of its testing platform, known as IRIDICA (currently in development).Says produces results consistent with the current standard of care in just hours.Data from Rapid Diagnosis of Infections in the CriticAlly IlL (RADICAL) study promises to provide new hope for critically ill patients with infections.Preliminary study data analysis found the sensitivity for blood stream infection and pneumonia assays were 88 pct and 91 pct, respectively, when compared to culture.Abbott technology was able to detect other pathogens that the initial culture missed in many patients.  Full Article

Abbott Laboratories raises FY 2014 guidance
Thursday, 8 May 2014 03:00am EDT 

Abbott Laboratories:Sees FY 2014 revenue, is expected to equal about DKK 2.4 billion.Sees FY 2014 EBITDA about DKK 425 million.  Full Article

Abbott Laboratories's MitraClip Device now approved in Canada
Wednesday, 30 Apr 2014 08:01am EDT 

Abbott Laboratories:Says its MitraClip therapy has received Health Canada approval, with a treatment option that can significantly improve symptoms, disease progression and quality of life for certain people with a heart condition called mitral regurgitation.Treatment with the MitraClip device can be effective in reducing the symptoms associated with severe MR, such as shortness of breath and fatigue, which may help people lead a more active lifestyle.  Full Article

Court of Appeals affirmed district court's decision on Glenmark Pharmaceuticals Ltd's appeal to invalidate Abbott Laboratories' TARKA
Tuesday, 22 Apr 2014 12:00am EDT 

Glenmark Pharmaceuticals Ltd:Says it loses its appeal to invalidate Abbott Laboratories' TARKA (trandolapril/verapamil hydrochloride) patent.Court of Appeals for the Federal Circuit, USA affirmed the district court's decision on April 22 regarding Glenmark's marketing of a generic equivalent of TARKA.  Full Article

India caps prices of 108 more medicines; drugmakers to take hit

MUMBAI, July 14 - India's pharmaceutical pricing regulator has cut and capped the prices of more than 100 drugs used to treat diseases ranging from diabetes to HIV to malaria, a move likely to hit the profit margins of drug firms like Sanofi SA, Abbott Laboratories and Ranbaxy Laboratories Ltd.

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