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Alere Inc (ALR_pb.N)

ALR_pb.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

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 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.