Abbott Laboratories

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  • Mon, Feb. 1, 8:07 AM
    • Abbott Laboratories (NYSE:ABT) acquires point-of-care diagnostics firm Alere (NYSE:ALR) for $56 per share ($5.8B). The deal will be immediately accretive to earnings and is expected to add $0.12 - 0.13 to EPS in 2017 and more than $.20 in 2018. Annual pre-tax synergies should be ~$500M by 2019.
    • Under the terms of the deal, Alere shareholders will receive $56 per share in cash. Abbott will also assume $2.6B in Alere outstanding debt.
    • Waltham-MA-based Alere generates ~$2.5B in sales per year. Shares are up 46% premarket on light volume.
    | Mon, Feb. 1, 8:07 AM | 13 Comments
  • Wed, Jan. 27, 3:30 PM
    • As if biotech investors need reminding, biotechs (and healthcare stocks) are getting some rude treatment today, the market's foul mood notwithstanding. The Nasdaq Composite Index is down 2.5%,but the SPDR S&P Biotech ETF (XBI -4.7%) almost twice as much. The iShares Nasdaq Biotechnology ETF (IBB -3.5%) is faring a bit better, but still down more than the broad market.
    • Only Biogen and Abbott have bucked the trend.
    • Sample of tickers: (AMGN -2.5%)(BIIB +5.7%)(CELG -3.9%)(GILD -3.3%)(ALXN -1.2%)(ABT +0.3%)(BMY -1.8%)(MRK -3%)(VRX -4%)(PFE -0.9%)
    • ETFs: BIB, BIS, CNCR
    | Wed, Jan. 27, 3:30 PM | 60 Comments
  • Sep. 18, 2015, 6:13 PM
    • Mexico City-based generic drugmaker Representaciones e Investigaciones Medicas -- Rimsa -- is drawing interest from big pharma companies, particularly including Pfizer (PFE -1.9%), Sanofi (SNY -3%) and Abbott Laboratories (ABT -2.1%), Bloomberg reports.
    • Rimsa could draw about $1B in a purchase by any of a list of suitors, which also could include Teva (TEVA -1.6%) and Takeda (OTCPK:TKPYY -1.9%).
    • Healthcare spending rates in Mexico are expected to rise to be more in line with other emerging markets like Brazil and Chile. Spending is relatively low and the market is fragmented.
    • Goldman Sachs is managing the sale.
    | Sep. 18, 2015, 6:13 PM
  • Dec. 30, 2014, 4:09 PM
    • Thinly-traded nano cap BG Medicine (NASDAQ:BGMD) jumps 63% on a massive 17x surge in volume in response the FDA clearance of the automated version of its galectin-3 test. The test will marketed by Abbott Laboratories' (NYSE:ABT) Diagnostics Division as part of the test menu of its Architect fully-automated immunoassay analyzer.
    | Dec. 30, 2014, 4:09 PM
  • Oct. 22, 2014, 7:42 AM
    • Abbott Laboratories (NYSE:ABT): Q3 EPS of $0.62 beats by $0.03.
    • Revenue of $5.1B (+5.6% Y/Y)
    • Shares +1.65% PM.
    | Oct. 22, 2014, 7:42 AM
  • Jan. 6, 2014, 2:09 PM
    • McKesson (MCK -0.1%) upgraded to Strong Buy from Outperform at Raymond James.
    • DaVita (DVA +0.4%) upgraded to Outperform from Market Perform at Raymond James.
    • Idenix Pharmaceuticals (IDIX -0.3%) upgraded to Buy from Neutral at UBS.
    • Abbott Labs (ABT +1.5%) upgraded to Overweight from Equalweight at Morgan Stanley.
    • Medtronic (MDT +2%upgraded to Overweight from Neutral at JPMorgan. Price target is $69.
    • Vertex Pharmaceuticals (VRTX +2.5%) upgraded to Buy from Neutral at UBS.
    • Ocera Therapeutics (OCRX +2.7%) upgraded to Outperform from Market Perform at BMO.
    • Boston Scientific (BSX +3.2%upgraded to Overweight from Equalweight at Morgan Stanley.
    • Exelixis (EXEL +4.6%) upgraded to Overweight from Neutral at Piper.
    • St. Jude Medical (STJ +3.8%) upgraded to Overweight from Equalweight at Morgan Stanley.
    | Jan. 6, 2014, 2:09 PM | 3 Comments
  • Dec. 18, 2013, 3:17 PM
    • Jefferies has a new list it's calling "Franchise Picks."
    • Making the grade from the healthcare space is Abbott Laboratories (ABT +4%) where Jefferies "expects margin and multiple expansion."
    • The "company deserves a higher multiple given their ability to continue to grow margins and because the lower multiple device business is only 20% of sales," the firm's research team adds.
    | Dec. 18, 2013, 3:17 PM | 3 Comments
  • Oct. 16, 2013, 8:15 AM
    • "We continued to have strong earnings performance, in spite of a supplier recall that impacted our International Nutrition business," Abbott Lab's (ABT) Miles White notes, referring to the supplier recall in August that hit the company's international pediatrics business.
    • Worldwide sales rose 4.3% for Q3 ex-currency impact and 2% on a reported basis. The supplier recall reduced sales by an estimated 2%.
    • Adjusted operating margin rose 210 bps Y/Y.
    • On a segment-by-segment basis (currency neutral): Nutrition sales +3.4%; Diagnostics +10.5% (stronger than expected here, reflecting double-digit growth in Molecular and Point of Care Diagnostics, as well as high single-digit growth in the Core Laboratory business); Established Pharmaceuticals +0.6% (-2.9% reported); Medical Devices +3.9%.
    • Quarterly dividend increased 57% to $0.22/share.
    • FY13 outlook affirmed at $1.98-2.04/share. Consensus is $2/share. (PR)
    • ABT +1.6% premarket.
    | Oct. 16, 2013, 8:15 AM
  • Oct. 7, 2013, 8:41 AM
    • Apricus Biosciences (APRI) gets national phase approval (the company's fifth) in Germany for Vitaros.
    • The company says the five remaining European phase approvals should be obtainable in Q4 and Q1 2014.
    • Vitaros' application for marketing approval is approved under the Decentralized Procedure. The Netherlands is the RMS.
    • APRI has multiple partners for the ED treatment including Takeda (TKPHF.PK), Sandoz, and Abbott (ABT). (PR)
    • APRI +10% premarket.
    | Oct. 7, 2013, 8:41 AM
  • Sep. 25, 2013, 3:08 PM
    • Abbott Laboratories (ABT -2.1%) suffers through a lackluster session.
    • Investors may be reacting to a Bloomberg piece which discusses tougher rules for medical device approvals in Europe.
    • According to the article, "smaller U.S. companies depend on the EU’s easier process to test their products and accumulate patient data that they may use to get approval in the U.S."
    • Although ABT is certainly not small, its MitraClip clamp is mentioned as an example of a product that is marketed in Europe but is still awaiting FDA approval. One factor ABT hopes will sway the FDA: The product's performance overseas.
    | Sep. 25, 2013, 3:08 PM | 1 Comment
  • Aug. 22, 2013, 12:30 PM
    • Dr. Reddy's Labs (RDY +1.7%) trades higher today after saying it has launched Divalproex Sodium Extended-Release Tablets, a generic version of Abbott Laboratories' (ABT -0.2%) Depakote ER mood stabilizers.
    • The Depakote ER brand and its generic counterparts had combined U.S. sales of approximately $194M for the most recent twelve months ending in June 2013.
    | Aug. 22, 2013, 12:30 PM
  • Jul. 10, 2013, 12:31 PM

    Mead Johnson Nutrition (MJN +3.8%) finally caves-in to pressure and says it will reduce the ex-factory price of its main products by 7% - 15% as of July 16. China's Bureau of Price Supervision and Anti-Monopoly recently launched an investigation into price-fixing in the infant formula market, prompting other firms such as Abbott Labs (ABT), Nestle (NSRGY.PK) and Danone to already reduce prices.

    | Jul. 10, 2013, 12:31 PM
  • Jul. 2, 2013, 2:27 PM

    Shares of Mead Johnson Nutrition (MJN -6.1%) responds to reports that it, as well as other companies, are under investigation in China for possible antitrust violations. The company says it's committed to providing high-quality and safe products at a good value for consumers in China and throughout the world, and it's fully cooperating with the Chinese government antitrust review of resale prices in the infant formula market and will provide information in response to inquiries received from government officials.

    | Jul. 2, 2013, 2:27 PM
  • Jun. 7, 2013, 1:24 PM

    Jefferies is out with some price target revisions and color after conducting a "global pharma review." Rundown: Top U.S. pick Abbott Laboratories (ABT +1.9%) reiterated at Buy, PT lowered to $44 from $46; top global pick Novartis (NVS +0.3%) has "positive growth inflection potential" in FY14; AbbVie (ABBV +0.6%), Roche (RHHBY.OB +2.5%), and Sanofi (SNY +0.5%) offer "attractive entry points" but ABBV's PT is lowered to $51 from $54; Johnson & Johnson's (JNJ +0.2%) PT lowered to $91 from $97; Merck (MRK -0.3%) has its price target raised to $56 from $54 and Pfizer (PFE +1.3%) has its target lowered slightly to $32. (Previous: Jefferies SOTP analysis)

    | Jun. 7, 2013, 1:24 PM | 3 Comments
  • May 28, 2013, 2:42 PM

    More from Jefferies' "proprietary sum of the parts analysis" of big pharma: Price target on Bristol Myers Squibb (BMY +0.7%) raised to $53.50 from $45, Buy rating reiterated; price target on Johnson & Johnson (JNJ +0.6%) raised to $97 from $90, reiterated at Hold; AbbVie (ABBV -0.5%) reiterated at Buy, price target raised to $54 from $51; Novartis (NVS -1.5%) is "top European pick"; price target for Abbott (ABT +1.3%), the "top U.S. pick", is raised to $46 from $43. (More big pharma: DB upgrades GSK)

    | May 28, 2013, 2:42 PM | 1 Comment
  • May 6, 2013, 1:36 PM

    Merck (MRK -1.3%) gets no love today from the FDA's approval of Liptruxet late Friday, as the stock is likely dragged down with the rest of the big pharma names on the back of a CNBC report that criticizes their earnings so far. The article points to the fact that pharmaceutical companies have seen a 4.7% contraction in earnings, and a 3.2% drop in revenue this quarter. Why? Morningstar's Damien Cover says there are two primary reasons: FX impact, especially from the yen, and intensified generic competition from patent losses.

    | May 6, 2013, 1:36 PM
Company Description
Abbott Laboratories discovers, develops, manufactures and sells health care products. Its products include branded generic pharmaceuticals manufactured internationally, marketed and sold outside the United States.