Final Countdown To St. Jude Acquisition – Abbott Scores US Antitrust Approval
Abbott has scored US FTC antitrust approval for its proposed $25bn acquisition of St. Jude. The approval comes with two conditions: that Abbott divests the vascular closure device and steerable sheath businesses to Terumo, and that it notifies the FTC if it intends to acquire lesion-assessing ablation catheter assets from Advanced Cardiac Therapeutics.
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Abbott Laboratories has finalized its $25b takeover of St. Jude Medical, first announced in April, making Abbott a major player in almost every corner of the $30bn cardiovascular device market.
Abbott and St. Jude Medical are to lighten their cardiovascular portfolios – and hopefully facilitate the completion of Abbott's pending $25bn acquisition of St. Jude – by selling three product lines to Terumo. Two of the three product lines to be divested come as little surprise, but one product was acquired by Abbott only earlier this year.