Abbott Dumps Generic Drugs Business, Looks For More Device Targets
This article was originally published in The Gray Sheet
Executive Summary
Mylan will buy Abbott’s non-U.S. developed markets specialty and branded generics business in a stock transaction valued at around $5.3 billion, a deal that will allow it to redomicile in the Netherlands.
You may also be interested in...
As AbbVie Prepares To Launch, Some Wind Gets Knocked Out Of Its Sails
Abbott’s proprietary pharmaceutical business will officially begin business as a separate entity called AbbVie Jan. 1, but a key pipeline opportunity – bardoxolone – is in doubt after a Phase III trial was terminated due to safety.
Abbott’s Branded Drug Spin-off Will Boost Profile Of Diversified Device Biz
Abbott’s planned spin-off of its branded pharmaceuticals business will raise the profile of its remaining diversified device and diagnostics business while isolating certain long-term risks, including generic drug competition.