By Bruce Japsen | Abbott
Laboratories said this morning it has closed on its $6.2 billion
purchase of Solvay Pharmaceuticals of Belgium, giving the North
Chicago-based drug giant access to a larger cholesterol drug franchise
as well as other medicines.
The deal gives Abbott sole control over the cholesterol drug Tricor and
its successor pill TriLipix. That will help add about $2.9 billion to
Abbott’s reported 2010 annual sales.
Filed under: Pharmaceuticals
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Abbott completes Solvay acquisition
EU clears Abbott’s purchase of Solvay
By Bruce Japsen and Associated Press | European regulators gave Abbott Laboratories antitrust clearance to buy Solvay’s pharmaceutical business for $6.6 billion, with certain sales conditions.
Under the clearance, Abbott will have to divest Solvay’s cystic fibrosis testing business. European regulators cited concerns that the combination could harm competition in that market.
The North Chicago-based maker of drugs and medical products expects the deal to close by the end of this month.
Abbott-Solvay deal expected to get EU OK
From Reuters | EU regulators are expected to approve Abbott’s deal to buy French pharmaceutical company Solvay’s drug unit. Abbot- and Solvay currently co-markets two cholesterol treatments — Tricor and TriLipix.
Read full story: reuters.com
Baxter lobbying budget tops $1 million for 4Q
Associated Press | Drug and medical device maker Baxter International Inc. spent over a million dollars lobbying on the health care reform effort and related bills in the fourth quarter.
The Deerfield-based company spent $1.02 million to lobby on the health care bills moving through the House and Senate, according to a recent disclosure report. That amount was up from $620,000 in the same period last year.
Abbott signs deal on cancer treatment
From PharmaLive: Abbott Laboratories said it signed a worldwide licensing agreement with French drugmaker Pierre Fabre SA to develop and market an antibody targeting the cMet receptor for the treatment of cancer.
Read the story: pharmalive.com
