An anonymous source tells Bloomberg Businessweek that Abbott pharmaceutical spin-off AbbVie will fire its cardiology drugs salesforce amid growing competition from generics.
Medical products giant Abbott Laboratories details its operations in the final months before spinning out its research pharmaceuticals division, with 1-time expenses dragging down its bottom line.
Medical products giant Abbott (NYSE:ABT) took a hit to its bottom line in the final quarter of 2012, with profits dropping by more than ⅓ as the company prepared for an overhaul.
Healthcare giant Abbott starts off its post-split season with an FDA win for its Xience Xpedition drug-eluting stent system.
Abbott (NYSE:ABT) announced FDA approval for its Xience Xpedition coronary stent, planning commercial launch in the U.S. immediately.
Abbott's Xience line of drug-eluting stents are the only such devices on the U.S. market approved for "direct stenting," in which the stent is delivered to the targeted blood vessel without a prior procedure preparing the lesion.
Healthcare giant Abbott will split into 2 parts starting tomorrow, separating its proprietary drug division from the generics, diagnostics, devices and nutrition arm.
MASSDEVICE ON CALL — Healthcare giant Abbott (NYSE:ABT) will officially split into 2 parts starting tomorrow, essentially separating the proprietary drug division from the rest of the company.
Abbott's board approved the spinout of its branded pharmaceuticals division as AbbVie, planning to issue 1 AbbVie share for each ABT share.
Abbott (NYSE:ABT) said its board of directors approved the spinout of its branded pharmaceuticals business as AbbVie Inc. in which Abbott's shareholders will receive an AbbVie share for each ABT share they own.
The distribution is slated for Jan. 1, 2013, for shareholders of record as of Dec. 12, according to a press release.
Johnson & Johnson's DePuy Synthes Spine division inks an integration pact with Brainlab for that company's imaging and navigation devices.
Johnson & Johnson (NYSE:JNJ) subsidiary DePuy Synthes Spine said it inked a deal with Brainlab to develop integrated surgical navigation and imaging devices.
Shares of NuVasive are down more than 30% today after the medical device company lowered its outlook for the rest of the year.
NuVasive Inc. (NSDQ:NUVA) shares are down more than 30% today after the medical device company said yesterday that its 3rd-quarter results are likely to be substantially lower than predicted.
San Diego-based NuVasive, which makes spinal surgery implants, said 3rd-quarter sales will be about $147 million, 4.8% below the roughly $154.4 million the company expected to post.