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Article: Abbott Expands with Solvay Buyout - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- September 29, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Abbott Expands with Solvay Buyout - Analyst Blog
Yesterday,
Abbott Labs
(
ABT
) announced that it would acquire the pharmaceuticals business of Belgian company Solvay Group for €4.5 billion or approximately $6.6 billion in cash.
With this deal, Abbott will gain access to Solvay's pharmaceutical portfolio, which includes products that focus on specialty markets like cardiovascular disease, neuroscience, men’s and women’s hormonal health and gastroenterology. Abbott will also gain full global rights to Solvay’s fenofibrate franchise. Abbott currently has U.S. rights to fenofibrate (TriCor and TriLipix), and pays royalties to Solvay.
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