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M&A Update: Abbott, CFR, Pfizer, InnoPharma

September 26, 2014 11:07 am | News | Comments

Pfizer announced that it has completed its acquisition of pharmaceutical development company, InnoPharma, Inc., and Abbott has acquired control of CFR Pharmaceuticals, more than doubling its Latin American-branded generics pharmaceutical presence.

Abbott Approves $3B Share Buyback

September 11, 2014 3:16 pm | News | Comments

Abbott Laboratories said Thursday that its board approved spending up to $3 billion to buy back...

Studies See New Risks for Cholesterol Drug Niacin

July 16, 2014 6:31 pm | by Marilynn Marchione - AP Chief Medical Writer - Associated Press | News | Comments

New details from two studies reveal more side effects from niacin, a drug that hundreds of...

Abbott Second Quarter Profit Falls on Higher Taxes, Revenue Up

July 16, 2014 9:37 am | News | Comments

Abbott Laboratories said that its second-quarter profit declined 2.1 percent, hampered by higher...

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Mylan to Buy Abbott's Generic Drugs Business in $5.3B Deal

July 14, 2014 8:17 am | News | Comments

Mylan said Monday that the deal will diversify and expand its business outside the U.S. The combined company will be organized in the Netherlands, which will help reduce its tax expenses, while maintaining its headquarters near Pittsburgh.  

Abbott to Acquire Russia's Veropharm

June 24, 2014 8:23 am | News | Comments

Abbott has announced a definitive agreement to acquire Veropharm, a leading Russian pharmaceutical manufacturer. Under the terms of the agreement, Abbott will acquire Limited Liability Company Garden Hills, the holding company that currently owns a controlling interest in Veropharm, for between 13.6 billion rubles and 17 billion rubles (or a range of approximately $395 million to $495 million U.S. dollars)

Abbott Expands Latin American Presence with Acquisition of CFR Pharmaceuticals

May 16, 2014 8:25 am | News | Comments

Abbott today announced a definitive agreement to acquire Latin American pharmaceutical company CFR Pharmaceuticals, more than doubling its Latin American branded generics pharmaceutical presence.               

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Abbott to Close Puerto Rico Manufacturing Plant

January 30, 2014 4:19 pm | by The Associated Press | News | Comments

Abbott Laboratories is closing one of its manufacturing plants in the Puerto Rico town of Barceloneta next year, delivering another blow to the U.S. territory's once-thriving pharmaceutical sector, officials said Thursday.     

Court Decides If Gay Juror Can Be Taken Off Case

September 18, 2013 8:05 am | by PAUL ELIAS, Associated Press | News | Comments

A multibillion dollar case between two giant pharmaceutical companies grappling over arcane antitrust issues has unexpectedly turned into a gay rights legal imbroglio that raises questions over whether lawyers can bounce potential jurors solely based on their sexual orientation.

NY State's Shareholder Push Falls Short at Abbott

August 15, 2013 1:04 pm | by MICHAEL VIRTANEN,Associated Press | News | Comments

New York's comptroller, who oversees the state's $160 billion pension fund, says he will keep fighting to use the power of massive investments to hold corporate executives accountable for mistakes that could affect the bottom line.   

Abbott to Pay $560M to Acquire Two Med Tech Firms

July 16, 2013 8:41 am | News | Comments

Abbott Laboratories has announced it will pay a combined $560M to acquire two privately-held companies focused on coronary implants and laser-assisted eye surgery.               

Abbott Labs Plans to Buy Back up to $3B of Stock

June 14, 2013 1:02 pm | by The Associated Press | News | Comments

Abbott Laboratories said Friday that it plans to buy back up to $3 billion of its common stock, replacing a finished $5 billion program that began before the health care company separated from its drug business. Abbott makes generic drugs, medical implants and nutritional formula. It spun off its...

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Analysts Expect Pharma Restructuring

May 29, 2013 8:14 am | News | Comments

A group of Jefferies & Co. analysts said yesterday that drug companies are putting more emphasis on restructuring and spinning off parts of their business, and that those moves will be a critical factor in stock performance in 2013 and 2014.

FDA Warns Pregnant Women of Migraine Drug Risk

May 7, 2013 8:17 am | by MATTHEW PERRONE,AP Health Writer | News | Comments

U.S. health regulators are warning doctors and women of child-bearing age that half-a-dozen medications used to treat migraine headaches can decrease children's intelligence if taken while their mothers are pregnant. The Food and Drug Administration said Monday that the drugs, including Depakote and Depacon, should never be taken by pregnant women for the prevention of migraine headaches.

Abbott 1Q Profit Down, But Adjusted Results Grow

April 17, 2013 1:30 pm | News | Comments

Abbott Laboratories said today its first-quarter net income slid as the year-earlier period got a boost from discontinued operations. However, earnings from continuing operations climbed more than 4 percent on sales of the company's nutritionals and diagnostic tests. Sales of those products helped offset declines in medical devices, which fell more than 4 percent.

Abbott Laboratories Recalls Blood Glucose Meters

April 15, 2013 7:53 am | News | Comments

Abbott Laboratories is recalling its FreeStyle InsuLinx Blood Glucose Meters after finding that they display and store incorrect test results for dangerously high blood sugar levels. The company says the meters will display and store readings for blood glucose levels of 1,024 milligrams per deciliter or higher at much lower levels.

AbbVie Board OKs $1.5B for Share Buybacks

February 15, 2013 9:42 am | News | Comments

The board of directors of AbbVie Inc. declared a quarterly cash dividend and also authorized a share repurchase program of up to $1.5 billion of the Company's outstanding common stock. The cash dividend of $0.40 per share is payable May 15, 2013 to stockholders of record at the close of business on April 15, 2013.

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AbbVie Issues Inaugural Full-Year Outlook for 2013

January 30, 2013 3:24 am | News | Comments

AbbVie delivered strong sales growth with its marketed pharmaceutical products in 2012.  The proprietary pharmaceutical segment of Abbott, representing the majority of AbbVie's revenue, grew more than 8 percent globally on an operational basis.  

Sucampo Receives $15M Milestone Payment from Abbott on First Sale of AMITIZA® in Japan

December 11, 2012 2:57 am | News | Comments

Sucampo Pharmaceuticals, Inc. today announced that its subsidiary, Sucampo AG, has received a $15 million milestone payment from Abbott’s subsidiary, Abbott Japan Co., Ltd., pursuant to the existing license, commercialization, and supply agreement between Sucampo Pharma Ltd. (SPL), SPI’s subsidiary, and Abbott.

Abbott Board of Directors Approves Separation of AbbVie and Declares Special Dividend Distribution of AbbVie Stock

November 29, 2012 3:02 am | News | Comments

Abbott announced today that its board of directors has approved the separation of its research-based pharmaceuticals business, which will be known as AbbVie Inc.

Sucampo and Abbott Announce Launch of AMITIZA in Japan

November 26, 2012 3:08 am | News | Comments

Sucampo Pharmaceuticals, Inc. and Abbott today announced the availability of AMITIZA® (lubiprostone) in Japan, a prescription medicine for the treatment of chronic constipation not caused by organic diseases.

Abbott Announces Clinical Trial Program for Hepatitis C Regimen

November 14, 2012 5:09 am | News | Comments

Abbott announced Tuesday that it is initiating a late-stage trial program for its three direct acting antivirals (DAAs), ABT-450, ABT-267 and ABT-333, in patients with hepatitis C virus (HCV) genotype 1.

Abbott Presents Positive Phase III Results for Humira

November 13, 2012 5:08 am | by Joe Barber | News | Comments

Abbott on Monday announced that Humira (adalimumab) was associated with significant improvements in physical function and health-associated quality of life in a Phase III trial involving patients with active non-radiographic axial spondyloarthritis (NRAS).

Abbott Labs Shares Slide on Kidney Study

October 19, 2012 4:04 am | by The Associated Press | News | Comments

Shares of Abbott Laboratories slid Thursday because the company's partner on a potential kidney disease drug is stopping a late-stage study due to safety concerns.  

Abbott Labs Third Quarter Net Income Rises; Lays Off 550

October 18, 2012 4:09 am | News | Comments

WASHINGTON (AP) — Drug and medical device maker Abbott Laboratories reported a higher third-quarter profit Wednesday, edging past analyst expectations, even as revenue slipped. The company, which is in the process of spinning off some of its businesses, also laid off 550 employees globally and said it plans to eliminate several hundred additional positions next year.  

Abbott to Collaborate with Astellas in CMV Vaccine Trial

September 6, 2012 4:09 am | News | Comments

Abbott announced today that it has signed an agreement to collaborate with Astellas Pharma Global Development in a Phase 3 clinical trial for ASP0113 (TransVaxTM), an investigational vaccine licensed from Vical Incorporated for preventing cytomegalovirus (CMV) reactivation in transplant patients.  

HHS Secretary Sebelius Announces Public-Private Partnerships to Fight HIV and AIDS

July 23, 2012 4:11 am | News | Comments

In a speech at the opening session of the XIX International AIDS Conference (AIDS 2012), Health and Human Services (HHS) Secretary Kathleen Sebelius announced a series of innovative public-private partnerships in the fight against the HIV/AIDS epidemic.

Abbott Posts Second-Quarter Rise in Sales, Lifted by Humira

July 19, 2012 6:10 am | by Anna Bratulic | News | Comments

Abbott reported Wednesday that second-quarter Humira sales jumped 16.5 percent to $2.3 billion over the year-ago period, as revenue from prescription drugs rose nearly 5 percent to $4.4 billion.

Mead Johnson Gets Apology from China Agency

July 11, 2012 3:58 am | News | Comments

GLENVIEW, Ill. (AP) — Shares of Mead Johnson Nutrition Co. rebounded in premarket trading Wednesday after a Chinese agency conceded that invalid testing led to erroneous reports that vanillin had been found in baby formula from companies including Mead Johnson.  

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