Key Developments: Abbott Laboratories (ABT)

ABT on New York Consolidated

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

Abbott Laboratories declares 362nd quarterly dividend
Wednesday, 16 Jul 2014 07:45am EDT 

Abbott Laboratories:Declares quarterly dividend of $0.22 per share.Payable on Aug. 15 to shareholders of record at the close of business on July 15.  Full Article

Abbott Laboratories raises FY 2014 EPS outlook
Wednesday, 16 Jul 2014 07:45am EDT 

Abbott Laboratories:Raised FY 2014 ongoing earnings-per-share guidance range to $2.19 to $2.29 from $2.16 to $2.26.Expects FY 2014 GAAP EPS in the range of $1.16 to $1.26.Says guidance for both ongoing and GAAP EPS from continuing operations includes the developed markets branded generics pharmaceuticals business, which is expected to be reported as discontinued operations starting in the Q3 2014.FY 2014 EPS of $2.19 - Thomson Reuters I/B/E/S.  Full Article

Mylan Inc to acquire Abbott Laboratories's non-U.S. developed markets specialty and branded generics business
Monday, 14 Jul 2014 06:30am EDT 

Mylan Inc:Has entered into a definitive agreement with Abbott Laboratories whereby Mylan will acquire Abbott's non-U.S. developed markets specialty and branded generics business in an all-stock transaction.Upon closing, Abbott will receive 105 million shares of the combined company worth about $5.3 billion based on Mylan's closing price of $50.20 on July 11, representing an about 21 pct ownership stake.  Full Article

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

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Abbott beats profit estimate, infant formulas rebound

- Abbott Laboratories Inc reported better-than-expected quarterly earnings on Wednesday as demand for its recently-recalled infant formulas began to recover and profit margins improved for other business segments.

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