The push for U.S. companies to move overseas kept investors busy Monday as Mylan (MYL) agreed to buy part of Abbott Laboratories’ (ABT) generic-drug business and relocate to the Netherlands, sending its stock up nearly 3% on the stock market. Meanwhile, Abbott’s former proprietary-drug unit AbbVie (ABBV) revised its bid for Britain’s Shire (SHPG) again after the latter finally came to the bargaining table. Abbott will hang on to its branded
U.S. big pharma AbbVie (ABBV) raised its offer for British drugmaker Shire (SHPG) by 11% Tuesday morning, but Wall Street seemed pessimistic as both stocks fell on the stock market today . AbbVie offered 22.44 British pounds and an 0.8568 AbbVie share for each share of Shire, which works out to more than $51 billion. It’s AbbVie’s fourth
Big pharma AbbVie (ABBV) raised its 2014 earnings guidance Monday, sending the company’s stock up 1.5% in morning trading on the stock market. Meanwhile, AbbVie’s buyout target Shire (SHPG) detailed its own bullish guidance in explaining to investors why it is worth more than the $46.5 billion AbbVie offered last week. AbbVie added six cents to its full-year EPS range, now $3.06 to $3.16. Analysts have modeled $3.14, which would be flat with the