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Alere Inc (ALR.N)

ALR.N on New York Stock Exchange

37.58USD
9 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Alere comments on Abbott's lawsuit
Wednesday, 7 Dec 2016 12:59pm EST 

Alere Inc : Alere issues statement regarding Abbott lawsuit . "Abbott's lawsuit is entirely without merit" . "Alere has fully complied with its contractual obligations under merger agreement" . Paul, Weiss, Rifkind, Wharton & Garrison and Cravath, Swaine & Moore LLP are serving as legal counsel to alere . Abbott well knows, none of issues it has raised provides it with any grounds to avoid closing merger . Alere will take all actions "to compel Abbott to complete transaction in accordance with its terms" ."Is highly confident that merger will be completed in accordance with terms set forth in merger agreement".  Full Article

Abbott says seeks to terminate Alere acquisition
Wednesday, 7 Dec 2016 11:14am EST 

Abbott Laboratories : Abbott seeks to terminate Alere acquisition . "Alere is no longer company Abbott agreed to buy 10 months ago" . In 10 months following Jan. 30, 2016, signing of agreement, Alere has "suffered a series of damaging business developments" . "We have attempted to secure details and information to assess these issues for months, and Alere has blocked every attempt" . Abbott filed its complaint seeking termination in delaware court of Chancery ."Damage to Alere's business can only be result of a systemic failure of internal controls".  Full Article

FDA concludes Xarelto clinical trial results not affected by Alere's INRatio
Tuesday, 11 Oct 2016 12:41pm EDT 

U.S. FDA: Analyses conclude that Xarelto clinical trial results were not affected by Alere's faulty monitoring device INRatio .FDA concludes blood thinner drug Xarelto is a safe and effective alternative to warfarin in patients with atrial fibrillation.  Full Article

Alere Q2 loss per share $0.46 from continuing operations
Tuesday, 6 Sep 2016 07:00am EDT 

Alere Says With Filing Of Q2 2016 Form 10 : Alere reports second quarter 2016 financial results . Q2 revenue $611 million versus I/B/E/S view $607.4 million . Q2 loss per share $0.46 from continuing operations . Q2 earnings per share view $0.58 -- Thomson Reuters I/B/E/S .Alere says with filing of Q2 2016 form 10-Q now current in financial filings and are on track to report our Q3 2016 results within normal time frame.  Full Article

Abbott Laboratories says "Alere’s lawsuit is without merit"
Friday, 26 Aug 2016 12:26pm EDT 

Abbott Laboratories : Abbott Laboratories says "Alere’s lawsuit is without merit" . Compliant with obligations under merger agreement with Alere . "continues to work toward regulatory approvals despite Alere’s nearly six month delay in filing its 2015 10-K" ((Bangalore.newsroom@thomsonreuters.com ;)).  Full Article

Alere says filed a complaint against Abbott on Aug. 25
Friday, 26 Aug 2016 11:00am EDT 

Alere Inc : Alere issues statement . "on August 25, 2016, Alere filed a complaint against Abbott in Delaware Chancery court" . Says expect redacted version of complaint to be publicly available next week . Expect redacted version of complaint to be publicly available next week .Alere will "compel" Abbott to complete transaction in accordance with its terms.  Full Article

Alere gets FDA clearance for its RSV rapid molecular test
Friday, 19 Aug 2016 07:00am EDT 

Alere Inc : Alere receives FDA clearance for Alere™ I RSV rapid molecular test . Alere will shortly submit an application for clia waiver of Alere I RSV test .Alere I testing applications have previously been clia-waived for Influenza a & b and strep a.  Full Article

Alere entered into a second amendment to secured credit agreement
Thursday, 18 Aug 2016 05:13pm EDT 

Alere Inc : On August 18 entered into a second amendment to secured credit agreement .Second amendment extends the deadline for delivery of the Q2 financial reports to September 13, 2016 - sec filing.  Full Article

Alere Q1 loss per share $0.18 from continuing operations
Wednesday, 17 Aug 2016 06:15am EDT 

Alere Inc : Q1 earnings per share view $0.56, revenue view $602.6 million -- Thomson Reuters I/B/E/S . Based on current business outlook, expect improved organic revenue growth in q2 and second half of 2016 . Amendment to secured credit agreement to provide extension of date by co will file q2 financial statements under secured credit agreement to sept 13 . Currently plans to file q2 form 10-q by sept 13, 2016, expects to pay about $3 million in fees to obtain amendment to secured credit amendment . Revenue for q1 of 2016 was $578 million, a 6% decrease compared to $613 million in prior year period .Company is seeking an amendment to its secured credit agreement.  Full Article

Alere achieves IVD CE mark for Alere reader lateral flow assay analyzer
Tuesday, 9 Aug 2016 07:00am EDT 

Alere Inc : Alere achieves IVD CE mark for its Alere™ reader lateral flow assay analyzer .Alere reader will launch initially in Europe, with other regions to follow.  Full Article

Abbott seeks to abort planned acquisition of Alere

Abbott Laboratories said on Wednesday that it had moved to terminate its proposed acquisition of Alere Inc , citing a "substantial loss" in the value of the diagnostics company since they struck a deal 10 months back.