Edition:
United States

Alere Inc (ALR_pb.N)

ALR_pb.N on New York Stock Exchange

398.64USD
22 Sep 2017
Change (% chg)

-- (--)
Prev Close
$398.64
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
1,236
52-wk High
$400.00
52-wk Low
$292.00

Latest Key Developments (Source: Significant Developments)

Alere reports Q4 loss per share $0.28 from continuing operations
Monday, 8 Aug 2016 06:22am EDT 

Alere : Files Form 10-K, reports fourth quarter and full year 2015 financial results . Q4 revenue $623 million versus I/B/E/S view $628.5 million . Q4 loss per share $0.28 from continuing operations . Q4 earnings per share view $0.58 -- Thomson Reuters I/B/E/S . Concluded analysis of certain aspects of revenue recognition for years ended december 31, 2015, 2014, and 2013 . Does not currently expect to file its Q2 2016 form 10-Q by August 9, 2016 . Expects to file its Q2 2016 form 10-Q "as soon as practicable" . Recognized additional income tax expense of $8 million in 2015 (nine months ytd) and a reduction in income tax expense of $7 million in 2014 . Tax-Related revisions resulted in an increase of $0.07 in basic and diluted earnings per share in 2014 . Has revised its financial statements for interim periods of 2015 and years ended december 31, 2014 and 2013 to correct immaterial errors . Alere expects to file its q1 2016 form 10-q by August 18, 2016 . "In the process of implementing a remediation plan and remain committed to providing accurate and transparent financial reporting" . The tax-related revisions resulted in a decrease of $0.09 in basic and diluted earnings per share in 2015 .None of these financial statement revisions impacted company's cash flow or cash balances.  Full Article

Alere opens new diagnostics manufacturing facility in India
Monday, 1 Aug 2016 04:15pm EDT 

Alere Inc : Alere opens new diagnostics manufacturing facility in India . Manesar facility will initially produce approximately 150 million rapid diagnostic tests annually .Manesar facility will have capacity to double production to more than 300 million tests over time.  Full Article

Alere says is fully cooperating with U.S. DOJ investigation
Wednesday, 27 Jul 2016 07:08pm EDT 

Alere Inc : Received a U.S. Department Of Justice subpoena addressed to alere toxicology services, inc. on July 1, 2016 . Believes matters to which subpoena relates are not material. . Alere comments on pain management subpoena . Company is fully cooperating with investigation. .Subpoena seeks records related to medicare, medicaid, tricare billings dating back to 2010 for patient samples at Austin Pain Management lab.  Full Article

Alere gotten subpoena from U.S. DoJ criminal-fraud unit - CNBC, citing DJ
Wednesday, 27 Jul 2016 03:47pm EDT 

: Alere shares plummet after Dow Jones reports it has gotten subpoena from U.S. DoJ criminal-fraud unit - CNBC Further company coverage: [ALR.N] (Bengaluru Newsroom: +1 646 223 8780).  Full Article

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

BRIEF-Alere announces intent to voluntarily delist Series B Convertible Perpetual Preferred Stock from the NYSE

* Alere announces intent to voluntarily delist Series B Convertible Perpetual Preferred Stock from the NYSE conditioned upon the completion of its acquisition by Abbott