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Article: Abbott buys Solvay pharma operations for $6.6B
- Article from:
- AP Worldstream
- Article date:
- September 28, 2009
- Author:
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Abbott Laboratories on Monday said it would pay $6.6 billion for the pharmaceutical business of Belgian chemicals maker Solvay in a move to further expand internationally and add to its product portfolio.
The deal is the latest in a string of drug mergers and acquisitions, and one of three announcements Monday that involved the fast-growing vaccines business.
By purchasing Brussels-based Solvay, Abbott gains access to emerging markets in Eastern Europe and Asia along with new therapeutic areas, including hormone therapies and vaccines.
Solvay's flu vaccine Influvac will give Abbott an entrant in the burgeoning vaccines market, which is currently dominated by European ...