Abbott Laboratories reported flat second-quarter earnings thanks to charges related to research and legal expenses and costs of its flurry of acquisitions in the last year. The North Chicago-based medical product giant reported earnings of $1.29 billion, or 83 cents a share in the period ended June 30. That compares with $1.28 billion, or 83 cents in the second quarter of 2009. Get the full story »
Abbott Labs
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FDA warns Abbott on glucose monitors
The U.S. Food and Drug Administration has warned Abbott Laboratories’ diabetes care unit about manufacturing problems at its Alameda, California plant, a letter released Tuesday said.
In a letter dated July 2, FDA said its inspectors found Abbott’s Freestyle and Navigator blood glucose monitoring products were adulturated and not conforming with codes for good quality system manufacturing practices. Get the full story »
Top California court allows drug antitrust suit
The California Supreme Court has breathed new life into a massive antitrust lawsuit filed by pharmacies against 18 of the country’s largest drugmakers. The pharmacies accuse the drugmakers of conspiring to artificially inflate prices by restricting importation of their drugs made overseas and stifling generic competition.
U.N. offers simpler, more effective AIDS treatment
Ten million AIDS deaths could be averted by 2025 and a million new HIV infections prevented every year if countries took a fresh look at how to meet targets for treating the disease, the United Nations AIDS program said Tuesday.
The UNAIDS Outlook report called for a simpler approach to tackling the human immunodeficiency virus (HIV) that causes AIDS, one it said could drastically cut the number of AIDS-related deaths and help to stop HIV from spreading. Get the full story »
Castellani to head drug lobbying group
Pharmaceutical Research and Manufacturers of America, which includes Abbott Laboratories and Takeda Pharmaceuticals as members, said Tuesday that John Castellani will become the drug lobby’s president and chief executive, effective Sept. 1.
Castellani, who replaces the retiring Billy Tauzin, comes to PhRMA after nearly a decade as president and CEO of Business Roundtable, an association of corporate executives. Get the full story »
Abbott settles patent suit over antibiotic
From the Chicago Daily Herald | Abbott Labs has settled a patent infringement suit against Sandoz over generic versions of the antibiotic Omnicef. Terms were not disclosed.
Abbott pharma unit exec Olivier Bohuon to retire
Abbott Laboratories said Thursday its executive vice president of pharmaceutical products is retiring.
The company said Olivier Bohuon will “shortly announce his plans to accept another opportunity” in a report filed with the Securities and Exchange Commission. The North-Chicago based company named Richard A. Gonzalez the interim vice president.
Abbott to sell Solvay’s flu-vaccine operation
From the Wall Street Journal | Abbott Labs has put the flu-vaccine business of Solvay SA up for sale. British pharmaceuticals giants GlaxoSmithKline and AstraZeneca are considered leading candidates to pick up the operation, expected to sell for around $617 million.
Abbott bought the drug business of Belgium’s Solvay in September.
Abbott gets OK for gonorrhea/chlamydia test
Abbott Laboratories said Monday that the Food and Drug Administration approved a new diagnostic test that allows for the detection of two sexually transmitted diseases.
Abbott’s RealTime Chlamydia trachomatis/neisseria gonorrhoeae (CT/NG) assay and Abbott’s m2000 System can detect gonorrhea and chlamydia, a disease that often goes untreated because of its lack of symptoms. Get the full story »
FDA approves Abbott’s new diabetes testing strips
Drug and device maker Abbott Laboratories said Thursday it received U.S. regulatory approval for its Freestyle Lite blood sugar testing strips.
The Food and Drug Administration approved the products to test for levels of glucose, a type of blood sugar, in patients with type 2 diabetes. People with the disease have trouble breaking down carbohydrates because their bodies have become resistant to a protein used in metabolism. Get the full story »
Abbott MS treatment in final clinical trial stage
Abbott Laboratories and its Massachusetts biotech partner have launched a final-stage clinical trial of their experimental treatment for multiple sclerosis.
The first patient — out of 1,500 needed worldwide — was enrolled last month in the U.S. The drug, daclizumab, is being developed for monthly injection under the patient’s skin by North Chicago-based Abbott and Cambridge-based Biogen Idec. Get the full story »
Boston Scientific completes refinance of 2011 debt
Boston Scientific Corp. said on Wednesday it completed the refinancing of its debt due to mature in 2011 with new $3-billion bank facilities. It also arranged a $1-billion three-year term loan which will be used to prepay its $900 million term loan due to Abbott Laboratories Inc. in April 2011.
FDA approves Abbott HIV test
Abbott Labs said the FDA today approved its new diagnostic test that allows for earlier detection of HIV. Get the full story »
April 23, 2010 at 11:31 a.m.
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Filed under: Corporate governance, Earnings, Economy, Health care Abbott shareholders nix governance proposals
By Wailin Wong | Abbott Laboratories shareholders voted down two proposals seeking
greater participation in corporate governance issues at the North
Chicago company’s annual meeting.
A “say on pay” proposal, which would have allowed shareholders to hold a
yearly advisory vote about senior executive compensation, was defeated
after garnering 41 percent approval, according to a preliminary tally. A
second proposal that would have given shareholders owning more than 10
percent of common stock the ability to convene a special meeting was
also defeated after reaching just 38 percent approval.
