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Abbott Laboratories

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  • Oct 22- Abbott Laboratories and Mylan Inc said on Wednesday they would go ahead with their $5.3 billion deal in which Mylan will buy part of Abbott's overseas generics business and set up headquarters in the Netherlands, but they tweaked the terms of the transaction. Treasury on Sept. 22 made changes to the corporate tax rules that govern such "inversion" merger...

  • Abbott says third-quarter sales match forecasts Wednesday, 22 Oct 2014 | 8:11 AM ET

    Oct 22- Abbott Laboratories said its third-quarter sales were in line with Wall Street forecasts and that it had slightly changed the terms of a deal to sell generic drugs to Mylan Inc.. Abbott on Wednesday said sales from continuing and discontinued operations rose 4.7 percent to $5.6 billion in the third quarter. That included generic medicines, now...

  • Abbott tops 3Q profit expectations Wednesday, 22 Oct 2014 | 7:57 AM ET

    NORTH CHICAGO, Ill.— Abbott Laboratories' third-quarter earnings sank 44 percent to $538 million compared to last year, but the drugmaker's performance topped analysts' expectations. In the third quarter, Abbott, which also makes infant formula and medical devices, earned $538 million, or 36 cents per share. The combined total of $5.62 billion edged past the...

  • NEW YORK, Oct 20- AbbVie Chief Executive Officer Richard Gonzalez for three months led the charge to buy Dublin drugmaker Shire for $55 billion, only to walk away from the deal last week, but analysts and fund managers said he deserves credit for trying and should remain at the helm of the Chicago drugmaker. Investors were given no advance warning on Thursday, when...

  • NEW YORK, Oct 20- AbbVie Chief Executive Officer Richard Gonzalez for three months led the charge to buy Dublin drugmaker Shire for $55 billion, only to walk away from the deal last week, but analysts and fund managers said he deserves credit for trying and should remain at the helm of the Chicago drugmaker. Investors were given no advance warning on Thursday, when...

  • NEW YORK, Oct 20- AbbVie Chief Executive Officer Richard Gonzalez for three months led the charge to buy Dublin drugmaker Shire for $55 billion, only to walk away from the deal last week, but analysts and fund managers said he deserves credit for trying and should remain at the helm of the Chicago drugmaker. Investors were given no advance warning on Thursday, when...

  • AbbVie: $55B acquisition of Shire officially dead Monday, 20 Oct 2014 | 6:18 PM ET

    AbbVie will pay Shire a $1.64 billion breakup fee for walking away from the deal.

  • Oct 15- Major U.S. drugmaker AbbVie Inc said on Wednesday it was reconsidering a $55 billion bid for Ireland's Shire Plc, marking a setback for "inversion" deals in which U.S. companies reincorporate abroad to cut tax costs. Steris Corp said on Monday it has offered to buy Britain's Synergy Health Plc for about $1.9 billion in a deal that would shift Steris' tax...

  • LONDON, Oct 14- GlaxoSmithKline is seeking binding bids by next month for a range of older drugs worth more than $3 billion, which it is likely to sell by geographical region, according to people with direct knowledge of the process. Britain's biggest drug maker is looking to divest the mature products in a bid to improve its growth profile and wants to dispose of...

  • *Gas Natural to launch 4,700 peso per share bid for CGE. MADRID/ SANTIAGO, Oct 12- Spain's Gas Natural on Sunday said it would launch a $3.3 billion takeover offer for Chile's biggest electricity distributor Compania General de Electricidad, in a bid to boost its presence in growing Latin American markets. As part of the deal with those investors, Gas Natural will...

  • *Action may deter Pfizer from returning to bid for AstraZeneca. WASHINGTON/ NEW YORK, Sept 23- Tough new U.S. rules on corporate "inversions" on Tuesday sent a chill through the market for the tax-avoidance deals, both pending and potential, with share prices falling sharply in nearly a dozen companies on both sides of the Atlantic.

  • *Action may deter Pfizer from returning to bid for AstraZeneca. Burger King, which is in the process of an inversion deal with Canada's Tim Horton's, said Tuesday it would proceed with its $11.5 billion deal despite the Treasury actions, saying the transaction was not about the tax benefits.

  • Tax inversion move: Bitter pill for deals to swallow Tuesday, 23 Sep 2014 | 8:46 AM ET

    The US government has been promising a crackdown on tax inversion deals for months. Yet the measures announced Monday may not be disincentive enough.

  • *May deter Pfizer from returning to bid for AstraZeneca. LONDON, Sept 23- Shares in drugmakers AstraZeneca and Shire fell sharply on Tuesday after the U.S. The move could jeopardize an agreed deal for AbbVie to buy Shire for $55 billion and deter Pfizer from making another attempt to acquire AstraZeneca, after a $118 billion takeover attempt failed in May.

  • The FTC, which says AndroGel users paid hundreds of millions of dollars more than necessary because of the companies' actions, asked the U.S. District Court for the Eastern District of Pennsylvania to order AbbVie to refund users that money.

  • SHANGHAI, Aug 25- The entanglement of H.J. Heinz Co. in China's latest food scare highlights a key concern for international and local firms- how to keep track of ingredients from diverse sources in a country where food supply tracing technologies are far from the norm.

  • You’ve got obesity all wrong: Zafgen CEO Tuesday, 19 Aug 2014 | 10:45 AM ET

    Despite the fact that more than a third of U.S. adults are obese, it's been an uphill battle for developers of obesity treatments.

  • P&G eyes Duracell, Braun in sweeping brand culling Monday, 18 Aug 2014 | 11:14 AM ET
    Procter & Gamble corporate headquarters in downtown Cincinnati.

    P&G is working with advisers to review up to 100 underperforming brands for potential divestiture.

  • WASHINGTON, Aug 7- An influential U.S. senator is encouraging the Internal Revenue Service to stamp out deals that allow companies to relocate their headquarters overseas in search of lower tax rates.

  • *Expects key drug launches in fourth quarter despite FDA delay. Aug 7- Political opposition to tax-inversion deals will not stop Mylan Inc's purchase of some non-U.S. businesses from Abbott Laboratories, Chief Executive Heather Bresch said, even as some companies have backed away from such tax arrangements.