Thu, Aug. 27, 9:05 AM
- Abbott Laboratories (NYSE:ABT) has denied a report that it's preparing an offer for St. Jude Medical (NYSE:STJ) that would value the medical device maker at about $25B.
- St. Jude shares have now pared back their gains in early trading after surging 17% on the rumor.
- STJ +4.9% premarket
- Previously: FT: Abbott prepping $25B takeover offer for St. Jude (Aug. 27 2015)
Thu, Aug. 27, 7:18 AM
- Abbott Laboratories (NYSE:ABT) is preparing a takeover bid for St. Jude Medical (NYSE:STJ) that is likely to value the medical device maker at $25B, FT reports.
- Sources say the firm has been working with advisers for several weeks, lining up the financing for a cash and stock offer.
- Abbott and St. Jude already have a strong alliance in the field of cardiovascular devices, and a full merger would give the enlarged company greater leverage in negotiating with healthcare providers.
- STJ +13.2% premarket
- Update: Quoting a spokesperson, Bloomberg says Abbott isn't making an offer for St. Jude.
Thu, Jul. 30, 11:42 AM
- Abbott Laboratories (ABT -0.6%) acquires privately-held Roseville, MN-based Tendyne Holdings for $250M plus regulatory-based milestones. Abbott will pay $225M upfront to acquire the equity in Tendyne that it does not already own.
- Tendyne is developing a replacement tissue valve for the treatment of advanced mitral regurgitation that can be placed into the heart without the use of cardio-pulmonary bypass.
Wed, Apr. 22, 3:33 PM
- According to Bloomberg, Omnicare (OCR +7.4%) is reportedly working with financial advisors seeking a buyer. Company representatives have declined to comment. Trading halted.
- Consensus Q1 view is EPS of $1.01 on revenues of $1.6B.
- The company is currently embroiled in a lawsuit filed by the U.S. Department of Justice over alleged kickbacks from Abbott Labs (ABT +2.4%) in exchange for purchasing the dementia drug Depakote.
- Previously: DOJ sues Omnicare over alleged dementia drug kickbacks (Dec. 22, 2014)
Wed, Jan. 28, 12:38 PM
- The European Commission clears Mylan's (MYL -0.1%) $5.3B acquisition of Abbott's (ABT +0.7%) non-U.S. Developed Markets Specialty and Branded Generics Business. The EC is concerned that the transaction would potentially reduce competition so its approval is contingent upon the divestment of some of Mylan's businesses in Germany, the U.K., France, Ireland and Italy.
Dec. 12, 2014, 12:22 PM
- Abbott Laboratories (ABT -0.7%) finalizes its takeout of Russian pharmaceutical firm Veropharm. It acquired control of the company via its purchase of the holding company, Limited Liability Company Garden Hills, that owned ~98% of Veropharm, for 16.7B rubles (~$305M).
- Previously: Abbott to buy Russian pharma company (June 23, 2014)
Nov. 17, 2014, 9:16 AM
Oct. 22, 2014, 12:24 PM
- In response to the changes in the tax code related to inversions, Abbott (ABT -1.1%) and Mylan (MYL -2.5%) adjust the terms of their $5.3B all-stock deal. The pricing terms related to product manufacturing and supply have been changed in favor of New Mylan and the number of shares of stock to be issued to Abbott have been increased to 110M from 105M.
- Former shareholders of Mylan will own ~78% of New Mylan and Abbott and its affiliates will own ~22%. The transaction is expected to close in Q1 2015.
Jul. 14, 2014, 7:03 AM
- Mylan (NASDAQ:MYL) acquires Abbott Labs' (NYSE:ABT) ex-U.S. specialty and branded generics business for $5.3B in an all-stock transaction. Abbott will receive 105M shares of MYL common stock representing a 21% ownership stake.
- The assets include a portfolio of more than 100 drugs that generate ~$1.9B in annual sales. The deal includes a sales force of ~2,000 representatives in more than 40 non-U.S. markets and two manufacturing facilities. The transaction will be immediately accretive to Mylan adding ~$0.25/share to diluted EPS the first year and increasing thereafter.
Jul. 11, 2014, 7:48 PM
- Reuters reports that generic drug firm Mylan (MYL -1%) is in advanced negotiations with Abbott Laboratories (ABT +0.1%) to purchase a multibillion dollar portfolio of its established off-patent Europe-based drugs. The transaction is a tax inversion deal that will enable Mylan to redomicile in Switzerland.
- Mylan has been in the hunt for foreign assets since its failed attempt to buy Swedish drugmaker Meda AB earlier this year. Its two main competitors, (TEVA +0.9%) and Actavis (ACT +0.5%) are domiciled in lower tax countries.
- Abbott will use the proceeds of the sale, rumored to be as high as $5B, to invest in higher growth opportunities.
Jun. 23, 2014, 4:14 PM
- Abbott Labs (ABT -0.3%) signs an agreement to acquire Russian pharmaceutical manufacturer Veropharm via purchasing Limited Liability Company Garden Hills, a holding company that owns a controlling interest in Veropharm. The purchase price range is 13.6B - 17B rubles (US$395M - 495M) depending on the size of Garden Hills' stake at the time of closing. Abbott will also assume net debt of 4.7B rubles (US$136M). The transaction will be funded with cash on the balance sheet and will close in Q4.
- The acquisition establishes a manufacturing presence for Abbott in Russia and enables it to obtain a portfolio of products in women's health, CNS, cardiovascular, gastroenterology and oncology.
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.
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.
Jul. 15, 2013, 8:52 AMAbbott Labs (ABT) has agreed to acquire privately held IDEV Technologies for $310M and ophthalmic device firm OptiMedica for $250M up front and up to $150M in milestone payments. IDEV develops a stent for treating blockages in blood vessels due to peripheral artery disease, while the acquisition of OptiMedica enables Abbott to enter into the laser-cataract surgery market. | Comment!
Jan. 31, 2013, 4:09 PMDespite the marketshare gains Cardiovascular Systems (CSII) has made with its Diamondback and Stealth devices for treating narrowed or blocked arteries in the leg, the real value in the company may lie in its takeout potential, says Seeking Alpha contributor Stephen Simpson. CR Bard, Cook, BSX, JNJ, MDT and ABT all have sales forces in the peripheral treatment space, making them solid candidates for a possible buyout of CSII. | Comment!
Jan. 8, 2013, 7:26 PMNestle (NSRGY.PK) is looking to sell nearly $1B of its Latin American assets in an effort to secure regulatory approval for its $12B purchase of Pfizer's (PFE) nutrition unit. The company is in the early stages of the process, with the assets potentially drawing interest from H.J. Heinz (HNZ), Danone (DANOY.PK), Abbott Laboratories (ABT) and Mead Johnson Nutrition (MJN). | Comment!
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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