United States

Alere Inc (ALR.N)

ALR.N on New York Stock Exchange

22 Jul 2016
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$0.16 (+0.37%)
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Latest Key Developments (Source: Significant Developments)

Alere expect to record about $70-$90 mln charges in 2016
Tuesday, 12 Jul 2016 06:02am EDT 

Alere Inc: As a result of voluntary withdrawal of Alere Inratio expect to record approximately $70-$90 million of related charges in 2016 . Of this amount, company expects an immediate non-cash impairment charge of approximately $20-23 million . In 2016, company expects to incur non-cash charges of approximately $33 - 37 million .Expects to incur one-time cash expenditures during 2016 in connection with this voluntary withdrawal of approximately $17-30 million.  Full Article

Alere to initiate voluntary withdrawal of monitoring system
Monday, 11 Jul 2016 05:00pm EDT 

Alere Inc : Alere to initiate voluntary withdrawal of the alere INratio and INratio2 PT/INR monitoring system . Alere is working with FDA to determine most appropriate timing for product discontinuation .Alere has recently determined to voluntarily remove inratio system from market.  Full Article

Alere HIV assay awarded WHO prequalification, making it available for public sector procurement
Thursday, 16 Jun 2016 07:00am EDT 

Alere Inc :Alere q hiv-1/2 detect assay awarded world health organization (who) prequalification , making it available for public sector procurement.  Full Article

Alere Inc - Diagnostics company Alere hit with securities fraud class action - Reuters News
Friday, 22 Apr 2016 11:18pm EDT 

Alere Inc:Diagnostics company Alere Inc has been hit with a securities fraud lawsuit accusing it of artificially inflating its share prices ahead of the Feb. 1 announcement of its proposed $5.8 billion acquisition by Abbott Laboratories Inc. - RTRS.The shareholder lawsuit, filed on Thursday in federal court in Boston, accusedAlere of misleading investors by stating that its financial reporting followed generally accepted accounting principles.The plaintiffs, a group of individual investors, citeda federal probe into the company's accounting for overseas sales in arguing that Alere had not adhered to those principle.Jackie Lustig, a spokeswoman for Alere, declined to comment on the lawsuit.  Full Article

Alere Inc Receives DOJ Subpoena Relating to U.S. Foreign Corrupt Practices Act, Unable to File 10-K - MIDTRD
Tuesday, 15 Mar 2016 09:31am EDT 

Alere Inc:Shares of Alere (ALR) were down by more than 6% in Tuesday's premarket trading after the company disclosed that on March 11, it received a subpoena from the U.S. Department of Justice - MIDTRD.relating to its sale, sales practices and dealings with third parties in Africa, Asia and Latin America, as well as other matters related to the U.S. Foreign Corrupt Practices Act.Alere is in the process of responding to the subpoena and intends to cooperated with the DOJ's investigation.Additionally, the company will be unable to file its 2015 10-K within the extension period which expired today, March 15.as it continues to conduct an analysis of certain aspects of the timing of revenue cutoff in Africa and China for the years ended December 31, 2013, 2014 and 2015, and to determine whether a material weakness existed at December 31, 2015.As a result of this delay, Alere does not expect to be able to mail a definitive proxy statement relating to its merger with Abbott Labs (ABT) until after the company files its 2015 10-K.  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

Alere Inc completes divestiture of BBI Group
Thursday, 19 Nov 2015 07:00am EST 

Alere Inc:Completes divestiture of BBI Group.Total purchase price was $115 million.Alere is eligible to receive up to an additional $47 million in contingent consideration.Intends to use all of the proceeds to pay down existing indebtedness.  Full Article

Alere Inc receives U.S. HHS approval to electronically process Drug Tests for department of transportation regulated employees
Thursday, 15 Oct 2015 07:00am EDT 

Alere Inc:Receives U.S. HHS approval to electronically process Drug Tests for department of transportation regulated employees.  Full Article

Alere Inc declares cash dividend
Tuesday, 1 Sep 2015 07:00am EDT 

Alere Inc:Says it has declared a cash dividend of $3.00 per share on its Series B Convertible Perpetual Preferred Stock.Says the dividend is payable on Oct. 15 to holders of record of Series B stock at the close of business on Oct. 1.  Full Article

Alere Inc reaffirms FY 2015 guidance
Tuesday, 4 Aug 2015 07:00am EDT 

Alere Inc:Expects FY 2015 net revenue to be in the range of $2.5 billion to $2.6 billion.Expects FY 2015 non-GAAP adjusted net income from continuing operations available to common stockholders in the range of $2.40 to $2.50 per diluted share.FY 2015 revenue of $2.56 billion and EPS of $2.43 - Thomson Reuters I/B/E/S.  Full Article

UPDATE 3-Abbott sales beat on higher demand for medical devices

* Shares up 2.3 pct (Adds details about St. Jude, Alere acquisitions and share move)