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Abbott Laboratories (ABT)

ABT on New York Consolidated

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23 May 2017
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Latest Key Developments (Source: Significant Developments)

St Jude Medical reports Q2 earnings per share $0.83
Wednesday, 20 Jul 2016 07:15am EDT 

St. Jude Medical Inc : Total crm sales were $395 million for q2 of 2016, an 8 percent decline compared with Q2 of 2015 . Qtrly international sales increased 10 percent as reported, or 7 percent on a comparable constant currency basis . St. Jude medical reports second quarter 2016 results . Q2 adjusted earnings per share $1.06 . Q2 earnings per share $0.83 . Q2 sales $1.562 billion versus I/B/E/S view $1.55 billion . Q2 earnings per share view $1.06 -- Thomson Reuters I/B/E/S . Total cardiovascular sales were $319 million for Q2 of 2016, an increase of 1 percent compared to prior year quarter .Due to planned merger with Abbott, St. Jude Medical is withdrawing financial guidance for fiscal year 2016.  Full Article

Abbott Laboratories says U.S. FDA approves Tecnis Symfony intraocular lenses
Friday, 15 Jul 2016 12:49pm EDT 

Abbott Laboratories : FDA approves Tecnis Symfony intraocular lenses, the first and only extended depth of focus lenses for people with cataracts .FDA approval includes a version of lens for people with astigmatism, Tecnis Symfony toric iol.  Full Article

Health Canada approves Abbott's 'Absorb' bioresorbable stent
Thursday, 14 Jul 2016 01:15pm EDT 

Abbott Laboratories : Health Canada approves Abbott's Absorb bioresorbable stent, the first fully dissolving heart stent .Abbott plans to offer the device to Canadian hospitals nationwide starting this summer.  Full Article

St Jude and Abbott Labs receive request for additional information from U.S. FTC
Tuesday, 12 Jul 2016 06:31pm EDT 

St Jude Medical: Abbott labs, st. Jude medical each received request for additional information from u.s. Ftc relating to abbott's potential acquisition of st. Jude medical .Effect of requests, which were issued under hart-scott rodino antitrust improvements act, is to extend waiting period imposed by Hart-Scott-Rodino act.  Full Article

Abbott sets quarterly dividend of $0.26/shr
Friday, 10 Jun 2016 11:05am EDT 

Abbott Laboratories :Sets quarterly dividend of $0.26 per share.  Full Article

Abbott Laboratories to acquire St. Jude medical
Thursday, 28 Apr 2016 06:48am EDT 

Abbott Laboratories:To acquire st. Jude medical.Transaction expected to be accretive to abbott's adjusted earnings per share in first full year after closing and increasing thereafter.Abbott laboratories says st. Jude medical shareholders will receive $46.75 in cash and 0.8708 shares of abbott common stock.Total transaction equity value of $25 billion.Says Abbott intends to fund cash portion of this transaction with medium-and long-term debt.Transaction has been approved by boards of directors of st. Jude medical and abbott.Says st. Jude medical's net debt of approximately $5.7 billion will be assumed or refinanced by abbott.Expects to issue $3 billion of common stock in secondary market to rebalance its capital structure.Combination is anticipated to result in annual pre-tax synergies of $500 million by 2020.Combination is anticipated to result in annual pre-tax synergies of $500 million by 2020.st. Jude medical's net debt of approximately $5.7 billion will be assumed or refinanced by abbott.Says st. Jude medical's net debt of approximately $5.7 billion will be assumed or refinanced by abbott.Evercore is serving as lead financial advisor for abbott with wachtell, lipton, rosen & katz serving as legal counsel.Evercore is serving as lead financial advisor for abbott.Guggenheim securities is acting as financial advisor and gibson, dunn & crutcher llp is serving as legal counsel to st. Jude medical.  Full Article

Abbott Laboratories - Durbin rips Abbott layoffs, severance pact - Chicago Tribune
Saturday, 16 Apr 2016 03:45pm EDT 

Abbott Laboratories:Abbott Laboratories has confirmed that it's laying off about 150 workers and replacing them with contractors from a foreign company that specializes in outsourcing U.S. jobs, Sen. Dick Durbin says - Chicago Tribune.  Full Article

Abbott Laboratories plan slammed - CHITRI
Wednesday, 2 Mar 2016 08:15am EST 

Abbott Laboratories:Corporate layoffs are so routine that they usually don't attract much attention among lawmakers in Washington, D.C. But Abbott Laboratories' recent move to outsource some information technology jobs has come under scrutiny from Sen. Dick Durbin - CHITRI.The Illinois Democrat is upset about reports that the health care company, based in north suburban Abbott Park, is replacing American workers with foreign workers. In a letter to CEO Miles White released Monday, the senator urged Abbott to cancel the layoffs.Abbott spokesman Scott Stoffel declined to comment on Durbin's criticism.The company hasn't publicly disclosed any layoffs in recent weeks. Durbin heard about the planned dismissals during a Senate Judiciary Committee hearing last week on the impact of temporary visa programs, including H-1B's, used to bring immigrants, mainly from India, for technology work.Durbin's letter said 180 Abbott employees were given 60 days' notice and told their last day will be April 22. People who lost their jobs also were told they would have to train their replacements, adding insult to injury, the letter said.Abbott awarded an outsourcing contract to Wipro, a large India-based IT services firm, according to Durbin. After they are trained, the foreign workers will do these jobs outside the United States, his letter said.  Full Article

Abbott Declares Quarterly Dividend
Friday, 19 Feb 2016 09:55am EST 

Abbott (:declared a quarterly common dividend of 26 cents per share.cash dividend is payable May 16, 2016, to shareholders of record at the close of business on April 15, 2016.  Full Article

Abbott Laboratories to acquire Alere for $5.8 bln
Monday, 1 Feb 2016 08:00am EST 

Abbott Laboratories:To acquire Alere, becoming leader in point of care testing and significantly advancing global diagnostics presence.Abbott will pay $56 per common share at a total expected equity value of $5.8 billion.Says transaction expected to be immediately accretive to abbott's ongoing earnings per share upon close.Combination is anticipated to result in annual pre-tax synergies approaching $500 million by 2019.Sees approximately 12-13 cents of accretion in 2017 and more than 20 cents in 2018 from deal.Under the terms of the agreement, Alere will become a subsidiary of Abbott.Transaction has been approved by the boards of directors of Alere and Abbott.Evercore is acting as financial advisor and Kirkland & ellis llp is serving as legal counsel to Abbott.JP Morgan is acting as financial advisor and cravath, swaine & Moore is serving as legal counsel to Alere.  Full Article

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