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Alere Inc (ALR.N)

ALR.N on New York Stock Exchange

49.17USD
28 Apr 2017
Change (% chg)

$0.07 (+0.14%)
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$49.10
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$49.06
Volume
306,612
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Latest Key Developments (Source: Significant Developments)

Alere Inc enters into third amendment
Monday, 24 Apr 2017 05:49pm EDT 

April 24 (Reuters) - Alere Inc : :Alere Inc - on April 24, co entered into third amendment, dated as of April 24, to secured credit agreement, dated as of June 18, 2015 .Alere Inc - pursuant to third amendment, lenders under credit agreement have agreed to waive certain defaults and events of defaults.Alere Inc - under amendment, lenders agreed to extend deadlines for delivery of financial statements for fiscal year ended December 31, 2016.  Full Article

Alere concluded its financial statements as of Dec 31, 2015 and 2014 should not be relied upon
Monday, 17 Apr 2017 06:00am EDT 

April 17 (Reuters) - Alere Inc :Alere - On April 12, concluded co's financial statements and other financial data as of December 31, 2015 and 2014 should not be relied upon - SEC filing.Alere - preliminarily anticipates that restatements will relate primarily to certain aspects of revenue recognition at co's South Korean location.Alere - on April 12, co also concluded financial statements for years ended Dec 31, 2015, 2014, 2013 should not be relied upon because of misstatements.Alere - also have preliminarily identified revenue recognition error related to one transaction at Japanese location that impacts 2013 and 2012.Alere - Misstatements that caused co to conclude financial statements should not be relied upon related to matters initially identified in late-Jan 2017.Alere - expected that misstatements identified in restatement will not impact total amount of revenue reported related to any transaction.Alere - Review expected to produce revenue adjustment related to 1 transaction in Japan, which resulted in recognition of about $1 million in 2013 instead of 2012.Alere - Based on review, expects that, as of Dec 31, 2016, material weaknesses relating to revenue recognition existing at dec 31, 2015 to be unremediated.Alere- based on its review to date, company will have an additional material weakness related to the control environment at SD.  Full Article

Abbott and Alere amend terms of merger agreement
Friday, 14 Apr 2017 06:00am EDT 

Alere Inc: Abbott and Alere amend terms of merger agreement . Under amended terms, Abbott will pay $51 per common share to acquire Alere . New expected equity value of deal of approximately $5.3 billion, reduced from originally expected equity value of approximately $5.8 billion . Under amended terms, date by which necessary regulatory approvals must be received has been extended to Sept. 30, 2017, from April 30, 2017 .Additionally, companies have agreed to dismiss their respective lawsuits.  Full Article

Abbott Laboratories to buy Alere for $51 per share - FT, citing sources
Friday, 14 Apr 2017 03:08am EDT 

Abbott Laboratories : Abbott laboratories has ended protracted legal battle over its $5 bln plan to buy alere by agreeing to purchase smaller u.s. Rival at a lower price - FT .Abbott will pay $51 a share to acquire the diagnostic testing group instead of the earlier $56-a-share price - FT, citing sources.  Full Article

Alere provides update on Arriva Medical
Thursday, 9 Mar 2017 07:38pm EST 

Alere Inc : Alere provides update on Arriva Medical . Disagree with court's ruling on Arriva's motion for interim relief . Is considering options for appeal .Continues to provide patients with supplies they need as administrative appeal process proceeds.  Full Article

Alere receives FDA CLIA waiver for Alere i RSV rapid molecular test
Tuesday, 7 Mar 2017 07:00am EST 

Alere Inc - : Alere receives FDA CLIA waiver for Alere™ i RSV rapid molecular test .Alere i RSV test has been granted clinical laboratory improvement amendments waiver by FDA for detection of RSV infection in children & adults.  Full Article

Alere Inc files for non-timely 10-K
Wednesday, 1 Mar 2017 06:42am EST 

Alere Inc : Alere Inc - Files for non-timely 10-K - SEC filing . Alere - unable to file 10-K within prescribed time period because co is reviewing certain aspects of revenue recognition at Korean, Japanese locations . Alere- Management recently became aware of information that could impact timing of certain revenue transactions in 2013, 2014, 2015, first 3 quarters of 2016 . Alere- As part of revenue recognition review, reviewing inappropriate conduct at company’s subsidiary in South Korea, Standard Diagnostics, Inc . Alere - till revenue recognition review being conducted is not yet complete, currently expects that review will result in certain revenue adjustments . Alere - doesn't expect misstatements to impact total amount of revenue reported related to any transaction . Alere - correction of revenue amounts will result in a shift of revenue between accounting periods . Alere - not yet determined if correction of misstatements to require restatement, withdraw reliance on, issued financial statements for 2013, 2014, 2015 .Alere - not yet determined if correction of misstatements to require restatement, withdraw reliance on, issued financial statements for first 3 quarters of 2016.  Full Article

European Commission clears Abbott acquisition of Alere
Wednesday, 25 Jan 2017 11:00am EST 

Alere Inc : European Commission clears Abbott acquisition of Alere .Alere inc - "We remain highly confident that merger will close according to terms of agreement" with Abbott.  Full Article

Alere provides update on Arriva Medical
Wednesday, 28 Dec 2016 05:03pm EST 

Alere Inc : Alere provides update on Arriva Medical . Arriva has filed an appeal with administrative law judge (ALJ) at CMS seeking to reinstate Arriva's billing status . Alere Inc says expects a decision on its motions to enjoin on or about January 5, 2017 . Provided an update on decision by centers for Medicare & Medicaid services to revoke Arriva Medical's medicare billing privileges .Alere Inc- Arriva filed complaint seeking to compel CMS to stay process regarding competitive bidding contract termination while ALJ appeal is ongoing.  Full Article

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

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BRIEF-Alere launches the first-ever rapid test to screen malaria infection in asymptomatic individuals

* Alere launches the Alere malaria AG P.F, the first-ever rapid test to screen malaria infection in asymptomatic individuals Source text for Eikon: Further company coverage: