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Abbott’s board approves AbbVie pharma spinout | Wall Street Beat

November 29, 2012 By MassDevice staff Leave a Comment

MassDevice.com Wall Street Beat

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.

Filed Under: Funding Roundup, News Well, Pharmaceutical, Wall Street Beat Tagged With: Abbott, AbbVie, ClearCare, Echo Therapeutics Inc., GlySure, Hello Health, Intuitive Surgical, iSonea, Qualcomm, Stryker, Synergetics USA Inc., Tangent Medical Technologies Inc.

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