Tag Archives: abt

Mylan, AbbVie News Shows Tax Inversion Boom Continues

The push for U.S. companies to move overseas kept investors busy Monday as Mylan agreed to buy part of Abbott Laboratories’ generic-drug business and relocate to the Netherlands. Mean while, Abbott’s former proprietary-drug unit AbbVie closed in on a deal for Anglo-Irish Shire Pharmaceuticals with its fifth offer. Abbott (ABT) will keep its branded generics business in emerging markets, but Mylan (MYL) will acquire the portion that operates in

Mylan Buying Abbott Generics Unit, Moving Abroad

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

Abbott Labs Buying Latin American Drug Giant CFR

Medical-products giant Abbott Laboratories (ABT) agreed on Friday to buy Chilean drugmaker CFR Pharmaceuticals for $2.9 billion. Abbott stock dipped a fraction in heavy trading on the stock market today. The deal, which also involves Abbott’s assumption of $430 million in debt, will add $900 million to Abbott’s 2015 revenue and make it one of the top 10 pharmaceutical companies in Latin America, according to a press release announcing the deal.