May. 16, 2014, 7:54 AM
- Abbott Labs (ABT) doubles its Latin American presence with its purchase of Chilean generic drug firm CFR Pharma for $2.9B cash plus assumption of $430M in debt.
- The acquisition will add $900M to Abbott's top line in 2015 and double-digit sales growth over the next few years.
- CFR markets over 1,000 products. It employs 7,000 people and has R&D and manufacturing facilities in Chile, Colombia, Peru and Argentina.
- The Latin American pharmaceutical market is valued at $73B and is forecasted to grow to $124B in four years.
May. 8, 2014, 9:01 AM
- Abbott Laboratories (ABT) signs on to develop a companion diagnostic test for Idera Pharmaceuticals' (IDRA) cancer drug IMO-8400. Idera will use it in its clinical development programs to treat certain genetically defined forms of B-cell lymphoma.
- The test will be based on polymerase chain reaction (PCR) to identify the MYD88 L265P oncogenic mutation in tumor biopsy samples. The mutation appears in ~90% of patients with Waldenstroms macroglobulinemia and ~30% in patients with the ABC (ABCZF) sub-type of diffuse B-cell lymphoma. It plays a key role in activating the Toll-like receptor pathways targeted by IMO-8400.
May. 2, 2014, 4:13 PM
Apr. 16, 2014, 9:02 AM
- Overall operational sales for Q1 grew 0.5% for Abbott Laboratories (ABT) to ~$5.2B. Diagnostics and Medical Devices grew 5.1% and 0.3%, respectively, while Nutrition fell 1.7% and Pharmaceuticals fell 0.7%.
- International operations continue to deliver higher growth rates than domestic ops.
- Ex-U.S. business delivered ~72% of global sales.
- In the Nutrition segment, Adult International grew 12.4% versus growth in the U.S. of 5.2%. Pediatric fell in both markets.
- Diagnostics grew in all segments and markets led by Molecular's 12.6% and POC's 10% increase internationally.
- Pharmaceutical sales in key emerging markets (led by BRIC) were almost flat with a slight 0.2% gain.
- International Device sales grew 4.7%.
- Management confirms its 2014 EPS guidance range of $2.16 - $2.26 ex items.
- GAAP EPS range for the fiscal year is $1.13 - $1.23.
- Press release
Apr. 16, 2014, 7:47 AM| Comment!
Apr. 16, 2014, 12:05 AM
Apr. 15, 2014, 5:30 PM
Mar. 28, 2014, 12:53 PM
- Abbott Labs' (ABT +0.2%) Supera Peripheral Stent System gets a thumbs up from the FDA. The product is approved for the treatment of people with blocked blood vessels in the upper leg caused by peripheral artery disease.
- Abbott gained access to the stent via its acquisition of IDEV Technologies last August.
Feb. 21, 2014, 12:13 PM
Jan. 22, 2014, 8:16 AM
- Abbott Labs (ABT -0.3%) net profit -44% to $589M.
- Sales breakdown: Nutrition -0.8% to $1.7B; Diagnostics +5.9% to $1.2B; Established Pharmaceuticals -4.3% to $1.29B; Medical Devices +2% to $1.43B.
- Plans to increase share repurchases in 2014 to over $2B.
- Abbott expects 2014 adjusted EPS of $2.16-2.26, "representing double-digit growth at the mid-point of the guidance range;" consensus is for $2.21.
- The company also expects to take $1.03 in special items, including a tax expense associated with a projected one-time repatriation of 2014 ex-U.S. earnings. (PR)
Jan. 22, 2014, 7:49 AM| Comment!
Jan. 22, 2014, 12:05 AM
Jan. 21, 2014, 5:30 PM
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.
Dec. 30, 2013, 11:16 AM
- Abbott Laboratories (ABT -0.2%) is set to pay $5.5M to settle allegations it inappropriately paid doctors to speak about the company's carotid, biliary and peripheral vascular products while expecting the physicians would then facilitate sales of the products to hospitals.
- ABT says it settled to avoid a lengthy legal battle and believes it acted appropriately.
Dec. 23, 2013, 6:05 PM
- Carlyle Group (CG) appears to be the leader to acquire Johnson & Johnson's (JNJ) clinical diagnostics unit, beating out P-E peer Blackstone (BX) and its partner Danaher (DHR), Reuters reports.
- The exact price of CG's offer is not known, but a deal likely would fetch ~$4B and could be completed within the next two weeks.
- JNJ's ortho clinical diagnostics unit makes blood-screening equipment and laboratory blood tests; it's a small player in a market led by Roche (RHHBY, RHHBF), Siemens (SI), Abbott Labs (ABT) and DHR.
ABT vs. ETF Alternatives
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.
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