Regulators in the U.S. are positioned to approve Abbott‘s (NYSE:ABT) $25 billion acquisition of St. Jude Medical (NYSE:STJ), according to 2 Reuters sources. The approval from the U.S. Federal Trade Commission could come through as early as this week or the next, according to the Reuters report. The companies were unsure of the conditions necessary for […]
Abbott
Indian anti-trust regulators approve $25B Abbott-St. Jude Medical tie-up
Anti-trust regulators in India joined their counterparts in the European Union in granting conditional approval for the $25 billion tie-up of Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ). In a Dec. 16 Twitter message, the Competition Committee of India said it “approves proposed combination between St Jude Medical and Abbott Laboratories; subject to voluntary remedies.” Although the exact “voluntary remedies” […]
Terumo moves forward on $1B deal to pick up St. Jude, Abbott vascular assets
Terumo Corp. (TYO:4543) said today it reached an agreement with Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ) to acquire vascular products from both companies in connection to their $25 billion merger. The deal will include St. Jude’s Angio-Seal and FemoSeal vascular closure product lines and Abbott’s Vado steerable sheath. Together, the total annual sales of the businesses are approximately […]
Proposed Alere acquisition to be terminated
Abbott (NYSE:ABT) said today it filed a complaint with the Delaware Court of Chancery seeking to terminate its proposed $5.8 billion acquisition of Alere (NYSE:ALR), referencing a “substantial loss in Alere’s value.” Illinois-based Abbott said that since signing its agreement to pick up Alere on January 30, the company has “suffered a series of damaging business developments.” […]
Abbott i-Stat handheld blood tester wins CE Mark
Abbott (NYSE:ABT) said today it won CE Mark approval in the European Union for its i-Stat Alinity handheld blood testing platform. The i-Stat Alinity system is designed to perform a wide range of blood tests and analyses, including blood chemistries and blood markers. The company claims the device has the “largest menu of blood tests […]
European anti-trust regulators grant conditional approval for Abbott’s $25B St. Jude Medical buy
Anti-trust regulators in the European Union last week granted conditional approval for the $25 billion merger of Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ). The European Commission’s decision on the deal requires the divestiture of a pair of device lines: St. Jude must deal its Angio-Seal and Femoseal vascular closure assets, including a manufacturing plant in Puerto Rico, and […]
Alere agrees to cough up probe docs to Abbott
Alere (NYSE:ALR) shares rose yesterday after it agreed to give documents to Abbott (NYSE:ABT), which is hoping to rescind its $6 billion offer to acquire the diagnostics company, covering probes into Alere’s dealings with 3rd-party distributors and foreign healthcare officials. The companies have sued each other in a Delaware state court, with Abbott seeking to compel Alere to produce […]
Report: EU regulators poised to OK Abbott’s $25B St. Jude Medical acquisition
Antitrust regulators in the European Union are reportedly poised to give conditional clearance to the $25 billion merger of Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ). The European Commission has until next week to make its decision on the deal, after the companies earlier this month made concessions designed to assuage the commission’s monopoly fears. Abbott and St. Jude agreed last […]
Abbott wins Japanese approval for Absorb
Abbott (NYSE:ABT) said today it won approval from the Japanese Ministry of Health, Labor and Welfare for its Absorb bioresorbable heart stent, touting it as the 1st fully dissolving heart stent approved in the country. The stent is now cleared for use in patients with coronary artery disease, the Chicago-based company said, with approval coming […]
Medicare revokes Alere’s Arriva division enrollment
Alere‘s (NYSE:ALR) Arriva division had its enrollment with the Centers for Medicaid & Medicare Services revoked this month, the company said today in a regulatory filing. Arriva, which develops durable medical equipment for diabetic testing, was informed Oct. 12 that its Medicare enrollment would be revoked by CMS over issues with an excess of claims submissions […]
Abbott looks to mollify EU regulators on St. Jude Medical merger; sues Alere for breach of contract
Abbott (NYSE:ABT) made moves yesterday on a pair of pending, multi-billion-dollar acquisitions, its $25 billion merger with St. Jude Medical (NYSE:STJ) and a $6 billion union with Alere (NYSE:ALR). The European Commission said Abbott, which along with St. Jude agreed to deal some of its vascular assets to Japan’s Terumo Corp. (TYO:4543) last month, agreed to make unspecified concessions to […]