Mediation efforts looking to resolve antitrust disagreements that have stalled the $5.8 billion merger of Alere (NYSE:ALR) and Abbott (NYSE:ABT) have failed, according to an SEC filing from Alere posted Monday. The companies told a Delaware state court earlier in the month that they would seek to mediate their dispute over the pending merger. The dispute concerns Abbott’s role […]
Abbott
Abbott wins FDA nod for Freestyle Libre Pro
Abbott (NYSE:ABT) said today it won FDA premarket approval for the FreeStyle Libre Pro continuous glucose monitoring system designed for use by healthcare professionals to treat patients with diabetes. The FreeStyle Libre Pro professional use device uses a patient-worn sensor to track blood glucose levels for up to 14 days. The sensor is applied by a […]
St. Jude seeks shareholder approval for Abbott merger
Updated to correct St. Jude’s headquarters to St. Paul, Minn. from the inappropriately tagged Memphis, Tenn. St. Jude Medical (NYSE:STJ) is reaching out to shareholders to approve its proposed $25 billion merger with Abbott (NYSE:ABT), according to an SEC filing posted today. The St. Paul, Minn.-based company said the deal will put $46.75 cash in the hands […]
Johnson & Johnson to buy Abbott optics biz for $4.3B
Johnson & Johnson (NYSE:JNJ) said today that it inked a deal to pick up Abbott‘s (NYSE:ABT) medical optics business for $4.3 billion in cash. The deal for Abbott’s subsidiary Abbott Medical Optics, which reported sales of $1.1 billion, includes its portfolio of ophthalmic products covering cataract surgery, laser refractive surgery and consumer eye health. “Eye health is […]
Abbott touts 38% hypoglycemia reduction in FreeStyle Libre study
Updated to include comments from Abbott medical affairs head Dr. Mahmood Kazemi. Abbott (NYSE:ABT) today released data from the Impact study of its FreeStyle Libre glucose monitor, touting significantly reduced hypoglycaemia in type 1 diabetes patients. Data from the 328-patient trial was published in the journal Lancet, the company said. The Impact study looked to assess […]
Abbott, Alere to mediate merger dispute
Alere (NYSE:ALR) told a Delaware state court yesterday that it and Abbott (NYSE:ABT) will seek to mediate their dispute over a pending, $5.8 billion merger. The dispute concerns Abbott’s role in winning the approval of U.S. anti-trust regulators for the merger, which was announced in February. Alere filed the lawsuit in August, looking to force Abbott to obtain all […]
Judge fast-tracks Alere suit against Abbott, urges mediation
A Delaware judge today expedited Alere‘s (NYSE:ALR) lawsuit against Abbott (NYSE:ABT) seeking to force Abbott to adhere to the terms of its $5.8 billion acquisition, but urged the companies to reach an agreement first. Delaware Chancery Court Judge Sam Glasscock said he put the hearing on the court’s fast track, but didn’t rule on Alere’s request […]
Alere airs dirty laundry in Abbott lawsuit
Abbott (NYSE:ABT) is deliberately stalling with federal anti-trust regulators, hoping to snuff the pending, $5.8 billion buyout of Alere (NYSE:ALR), according to a lawsuit unveiled this week in a Delaware state court. Waltham, Mass.-based Alere, which revealed the lawsuit last week, alleged that Abbott evaded a 2nd request for information on the tie-up from the Federal Trade Commission […]
Ex-Abbott exec Simhambhatla is new Alphaeon CEO | Personnel Moves August 26, 2016
Ex-Abbott exec Simhambhatla is new Alphaeon CEO Healthcare and social commerce company Alphaeon said last week it tapped former Abbott (NYSE:ABT) senior veep Dr. Murthy Simhambhatla as its new CEO and president, replacing Robert Grant who was recently appointed as vice chair of the company’s board of directors. Dr. Simhambhatla previously operated as a senior partner Strathspey […]
Alere files suit against Abbott to force $6B buyout
Alere (NYSE:ALR) said today it filed a lawsuit against Abbott (NYSE:ABT), looking to force the company to obtain all antitrust approvals required to complete its $5.8 billion acquisition of Alere. The complaint was filed in Delaware Chancery Court and seeks to “compel Abbott to fulfill its obligations under the terms of the merger agreement.” “Alere will take […]
Alere: Abbott can’t get out of $6B merger
Alere (NYSE:ALR) said it is confident it’s potential $6 billion merger with Abbott (NYSE:ABT) will go through, despite concerns that it could fall through. “In response to the statements made by an Abbott spokesman yesterday, while Abbott is free to express concerns about anything it wants, it should not imply that Abbott has any basis to […]