Abbot to buy Facet Biotech for $450M
2010-03-10 02:38:21
Quote: Abbott Laboratories Inc. will buy Facet Biotech Corp. for about $450 million, the companies said Tuesday.Abbott Park, Ill.-based Abbott (NYSE:ABT) will pay a purchase price of about $722 million, less Facet's projected cash and marketable securities at closing of about $272 million.The $27 per-share price for Redwood City-based Facet (NASDAQ:FACT) is $10.79 higher than the company's closing share price Tuesday of $16.21."The acquisition brings access to biologics in two key therapeu...
Read articleBusiness Highlights
2010-03-10 02:38:20
Quote: It would add $132 billion to the budget deficit over the next year and a half.Eight Republicans voted with Democrats to defeat a GOP filibuster of the measure, setting up a final vote on Wednesday.Abbott paying $450 million for Facet BiotechNEW YORK (AP) -- Abbott Laboratories says it will buy Facet Biotech for about $450 million in cash, expanding the company's access to biotechnology drugs, including a potential treatment for multiple sclerosis.Facet and its partner Biogen Idec plan to move th...
Read articleAbbott to Buy Facet Biotech for 67% Premium
2010-03-10 02:38:18
Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: Abbott Laboratories announced late Tuesday that it had agreed to buy Facet Biotech for a net price of $450 million in cash, in a move aimed at expanding its drug pipeline, including for treatments for multiple sclerosis.
Under the terms of the deal, Abbott will pay $27 for each Facet share, a 67 percent premium over Facet’s closing price of $16.21 on Tuesday. Facet’s shares jumped slightly above Abbott’s offer in after-hours trading, gaining $10.89, or 67.2 percent, to $27.10, ...
Read articleAbbott executives to chair medical device lobby
2010-03-09 07:11:36
Quote: WASHINGTON (AP) -- The medical device industry's chief advocacy group, AdvaMed, said Thursday an Abbott Laboratories executive will serve as its chairman.James Mazzo is President of Abbott Medical Optics, a maker of contacts lenses and vision products which was acquired by Abbott last year. He previously served as the company's chairman and chief executive before its acquisition.Mazzo will serve a two-year term as chairman of AdvaMed's board of directors. He replaces Edwards Lifesciences CEO Mik...
Read articleAbbott to Collaborate With GSK on Molecular Diagnostic Test to Select Candidate Patients for Future Skin Cancer Immunotherapy
2010-03-05 06:52:09
Quote: Read articleAbbott executives to chair medical device lobby
2010-03-05 06:52:08
Quote: WASHINGTON (AP) -- The medical device industry's chief advocacy group, AdvaMed, said Thursday an Abbott Laboratories executive will serve as its chairman.James Mazzo is President of Abbott Medical Optics, a maker of contacts lenses and vision products which was acquired by Abbott last year. He previously served as the company's chairman and chief executive before its acquisition.Mazzo will serve a two-year term as chairman of AdvaMed's board of directors. He replaces Edwards Lifesciences CEO Mik...
Read articleGE plans new American export--outdoor smoking ban
2010-03-05 06:52:07
Keywords: Industrial conglomerates,Industrial conglomerates (industry),
Quote: Drugmaker Abbott Laboratories
Inc (ABT.N) prohibits employees and visitors from lighting up
at any of its campuses in the United States and Puerto Rico. Some U.S. companies have taken anti-tobacco measures even
further. In 2005, lawn care products maker Scott's Miracle-Gro
Co (SMG.N) said it would no longer hire people in the United
States who smoked and banned its employees from smoking on or
off the job in the U.S. states where it can do so legally. The company today estimates that less than 1...
Read articleSenior Analyst Forecasts 3 - 5 Year EPS Growth Estimate Of 10% For Abbot Labs (ABT)
2010-03-04 10:11:31
Quote: Read articleChild seizure study finds oldest drug works best
2010-03-04 10:11:28
Keywords: Health and medicine,Pharmaceuticals (sub-industry),United States of America,Regulation and enforcement,General News,Nature Society and Science,Business activities,Living and lifestyle,United Kingdom,Western Europe,Europe,Company News item,Economic news, E
Quote: (PFE.N) (Ethosuximide), GlaxoSmithKline Plc (GSK.L)
(Lamotrigine) and Abbott Laboratories (ABT.N) (valproic acid). "The older drug gives you better seizure control combined
with fewer attention problems," Dr. Tracy Glauser of Cincinnati
Children's Hospital in Ohio, who led the study, said in a
telephone interview. The study is the first to conclusively compare drug
treatments for childhood absence epilepsy, the most common form
of childhood seizures. The condition usually begins between ages 4 a...
Read articleAbbott and Enanta Announce Advancement of Hepatitis C Collaboration
2010-03-03 01:30:19
Quote: Read articleTwenty-Five Years of HIV Blood Testing Helped to Positively Transform Global Health Crisis
2010-03-03 01:30:19
Quote: Read articleAbbott, Enanta moving Hepatitis C drug development
2010-03-03 01:30:18
Quote: NEW YORK (AP) -- Abbott Laboratories and partner Enanta Pharmaceuticals on Tuesday said they will move potential hepatitis C treatments into midstage development.The companies said they will evaluate three potential hepatitis C drugs in Phase 2 clinical trials. The drug candidates include ABT-450, which was discovered through the partnership. Also moving into midstage development are ABT-333 and ABT-072, which were both discovered by Abbott.The midstage studies will focus on safety, tolerability...
Read articleInPlay: Abbott Labs and Enanta announce advancement of Hepatitis C collaboration
2010-03-03 01:30:18
Keywords: market update, investing education, financial advice, financial planning
Quote: Read articleFDA panel back Bristol-Myers transplant drug
2010-03-02 01:21:31
Quote: Belatacept patients also showed improved kidney function and lower blood pressure, both key predictors of survival.However, the FDA panelists struggled to describe the benefits of the drug, citing higher rates of severe kidney rejection compared with older drugs from Novartis and Abbott Laboratories."I'm not convinced they measured effectiveness adequately," said Dr. Darren Mcguire of the University of Texas Southwestern Medical Center, who voted against approval. "I'm not willing to sacrifice a...
Read articleSoleil Securities Analyst Picks 2010 Top Health Services Stocks
2010-03-02 01:21:31
Quote: Read articleUPDATE - U.S. FDA panel backs Bristol transplant drug
2010-03-02 01:21:30
Keywords: Pharmaceuticals - diversified,Pharmaceuticals (sub-industry),United States of America,Washington / US Government News,Regulation and enforcement,Health and medicine,Switzerland,Western Europe,Europe,Healthcare,Pharmaceuticals and biotechnology,General New
Quote: Most panelists noted that belatacept was not quite as
effective as current treatments such as cyclosporine, a type of
calcineurin inhibitor (CNIs) sold as Abbott Laboratories'
(ABT.N) Gengraf and Novartis's (NVS.N) Sandimmune and Neoral. That trade off, though was worth it, said panelist
Frederick Kaskel, because "We need to offer patients options." FDA staff reviewers have cited concerns about possible
serious complications even though data showed better heart
risks and kidney function, citing ...
Read articleUPDATE - U.S. FDA panel backs Bristol transplant drug
2010-03-02 01:21:30
Keywords: Pharmaceuticals - diversified,Pharmaceuticals (sub-industry),United States of America,Washington / US Government News,Regulation and enforcement,Health and medicine,Switzerland,Western Europe,Europe,Healthcare,Pharmaceuticals and biotechnology,General New
Quote: Most panelists noted that belatacept was not quite as
effective as current treatments such as cyclosporine, a type of
calcineurin inhibitor (CNIs) sold as Abbott Laboratories'
(ABT.N) Gengraf and Novartis's (NVS.N) Sandimmune and Neoral. That trade off, though was worth it, said panelist
Frederick Kaskel, because "We need to offer patients options." FDA staff reviewers have cited concerns about possible
serious complications even though data showed better heart
risks and kidney function, citing ...
Read articleUPDATE - Stents, surgery both prevent strokes-study
2010-03-01 06:25:03
Keywords: Pharmaceuticals (sub-industry),Health and medicine,United States of America,Science; technology,General News,Nature Society and Science,Canada,Hot stocks,Equities,Company News item,Economic news, EC, business/financial pages,
Quote: Several medical device makers sell carotid stents,
including Boston Scientific Corp (BSX.N), Abbott Laboratories
(ABT.N), Johnson & Johnson (JNJ.N), Ev3 Inc (EVVV.O) and C.R.
Bard Inc (BCR.N). Ev3 shares jumped as much as 12.2 percent in morning
trading. The nine-year trial, dubbed the Carotid Revascularization
Endarterectomy vs. Stenting Trial or CREST trial, compared the
safety and effectiveness of surgery versus stenting in 2,502
patients with or without a previous stroke. It showed that ...
Read articleStroke study finds neck stents safe, effective
2010-03-01 06:25:01
Quote: Stents won approval as an alternative for certain patients in 2004; half a dozen companies make the devices now, although Abbott Laboratories stands to benefit most because its stents were in the study.To place them, doctors put a tube in a blood vessel in the groin and push it to the narrowed artery. A parachute-like filter is placed to trap bits of plaque that dislodge and keep them from traveling to the brain. A balloon is inflated to flatten the clog, the stent is placed to hold the artery o...
Read articleFDA warns of heart risk with HIV drug combination
2010-02-26 06:23:36
Quote: WASHINGTON (AP) -- The Food and Drug Administration issued a warning Tuesday about potential heart risks when combining two HIV drugs.The agency said preliminary data suggest Roche's Invirase and Abbott Laboratories' Norvir can affect the electrical activity of the heart when used together. Changes to the heart's electrical activity can delay the signals that trigger heart beats.In some cases the problem can cause irregular heart rhythms, leading to lightheadedness, fainting, and even death.The ...
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