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Alere Inc (ALR)

ALR on New York Consolidated

43.96USD
22 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Alere Inc receives FDA CLIA waiver for Alere i Strep A Rapid Molecular Test
Thursday, 16 Jul 2015 07:00am EDT 

Alere Inc:Says U.S. Food and Drug Administration (FDA) has granted CLIA waiver for the Alere i Strep A test.  Full Article

Alere to sell BBI Group and acquisition of US diagnostics
Thursday, 16 Jul 2015 07:00am EDT 

Alere Inc:Continues to execute on core business strategy through agreement to sell bbi group and acquisition of US diagnostics.Says expects the two transactions combined to be dilutive to earnings per share by approximately $0.00-$0.05 in 2015.Says Alere has acquired substantially all of the assets of US diagnostics (usd) for $60 million in cash.On July 2, 2015, Alere signed agreement to sell its bbi business to exponent private equity llp, for about $164 million.  Full Article

Alere Inc announces completion of offering of $425 million of senior subordinated notes
Wednesday, 24 Jun 2015 04:35pm EDT 

Alere Inc:Says completed its previously announced offering of $425 million of senior subordinated notes.notes will bear interest at rate of 6.375% per year, payable semi-annually on Jan. 1 and July 1 of each year, beginning on Jan.1, 2016, and will mature on July 1, 2023 unless earlier redeemed.Intends to use net proceeds from the offering to redeem, effective as of Oct. 1, 2015, all of outstanding $400 mln aggregate principal amount of 8.625% senior subordinated notes due 2018 and to pay a portion of related redemption fees, premiums, costs and expenses and accrued interest on such notes.Exercised its right immediately to satisfy and discharge all of its obligations with respect to the 8.625% senior subordinated notes, subject to settlement of the redemption on Oct. 1, 2015.As a result of this refinancing, Co expects to save about $2 million in quarterly interest expense.  Full Article

Alere announces offering of $425 mln of senior subordinated notes
Wednesday, 10 Jun 2015 07:50am EDT 

Alere Inc:Says intends to offer $425 mln of senior subordinated notes due 2023.To use proceeds to redeem its outstanding $400 mln aggregate principal amount of 8.625 pct senior subordinated notes due 2018.  Full Article

Alere declares cash dividend on Series B convertible perpetual preferred stock
Monday, 1 Jun 2015 07:00am EDT 

Alere Inc:Declares a cash dividend of $3.00 per share on its Series B Convertible Perpetual Preferred Stock.Payable on July 15 to holders of record of Series B stock at the close of business on July 1.  Full Article

Alere Inc reaffirms FY 2015 guidance; to restate FY 2014 financial statements
Tuesday, 5 May 2015 07:01am 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 EPS of $2.43 and revenue of $2.58 billion - Thomson Reuters I/B/E/S.Also says it filed a Form 8-K with the Securities and Exchange Commission which indicates that FY 2014 annual and interim financial statements should not be relied upon because of errors related to the accounting for income taxes in discontinued operations.including the Alere Health divestiture and another divestiture completed in 2014.The error in the accounting for income taxes associated with the Alere Health divestiture was primarily due to the incorrect determination of the book basis of the businesses sold.Expect that the adjustments related to these dispositions and other individually immaterial adjustments that will be recorded will decrease GAAP income from discontinued operations, net of tax, in 2014, by between $36.0 million and $50.0 million.and will increase GAAP loss from continuing operations in 2014 by between $9 million and $13 million.On a non-GAAP adjusted basis, expects that the adjustments will decrease income from continuing operations in 2014 by between $6.0 million and $8.0 million.  Full Article

Alere receives FDA clearance for Alere i Strep A Rapid Molecular Test
Thursday, 2 Apr 2015 07:00am EDT 

Alere Inc:Says that its Alere i Strep A test has received marketing clearance from the U.S. Food and Drug Administration (FDA).Alere i Strep A is the first molecular test that detects Group A Streptococcus (GAS) bacteria in throat swab specimens in 8 minutes or less.Upon receipt of this clearance from the FDA, Alere submitted an application for CLIA (Clinical Laboratory Improvement Amendments) waiver of the Alere i Strep A test.Other assays currently in development on the Alere i platform include respiratory syncytial virus (RSV), C. difficile and Chlamydia/ Gonorrhoea.  Full Article

Alere Inc to appoint Veteran Finance Executive, James F. Hinrichs, EVP and Chief Financial Officer
Monday, 23 Mar 2015 07:00am EDT 

Alere Inc:Says that James F. (Jim) Hinrichs will be appointed Executive Vice President and Chief Financial Officer, effective April 6, with global responsibility for Finance, Procurement, IT and Shared Services.Hinrichs succeeds David (Dave) Teitel who will remain with company during transition period.  Full Article

Alere announces Chief Financial Officer transition
Monday, 9 Mar 2015 04:30pm EDT 

Alere Inc:Announced that David Teitel, the Company's Chief Financial Officer (CFO), will transition from the role of Chief Financial Officer when a suitable successor is hired.  Full Article

Alere Inc declares cash dividend on series B convertible perpetual preferred stock
Tuesday, 3 Mar 2015 07:00am EST 

Alere Inc:Declares cash dividend of $3.00 per share on series B convertible perpetual preferred stock.Payable on April 15.Record date as on April 1.  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)