Navigation Links
Abbott Honored as One of The Deal's Most Admired Corporate Dealmakers
Date:11/12/2008

Awards Recognize Companies That Demonstrate Best Strategic Use of Mergers

and Acquisitions

ABBOTT PARK, Ill., Nov. 12 /PRNewswire-FirstCall/ -- The Deal (http://www.thedeal.com) magazine has named Abbott (http://www.abbott.com)as the healthcare sector winner of its inaugural Most Admired Corporate Dealmakers Awards. The Deal honored Abbott for the most effective strategic use of acquisitions and divestitures.

Over the past decade, Abbott has reshaped its business portfolio with a focus on high-growth, innovation-driven businesses with market-leading potential. The company:

-- Acquired Knoll Pharmaceuticals, positioning Abbott as a global leader in biotechnology with HUMIRA(R), a biologic for treating several debilitating autoimmune diseases. Since its launch in 2003, HUMIRA has grown to more than $3 billion in annual sales in 2007 and Abbott expects sales of more than $4.4 billion in 2008.

-- Purchased Kos Pharmaceuticals (http://tinyurl.com/5t4tc4), immediately enhancing Abbott's existing franchise and portfolio strength in the $20 billion lipid management market.

-- Acquired Guidant's vascular business, (http://tinyurl.com/5jhjym) providing Abbott with the innovative drug-eluting stent, XIENCE V(TM) (http://tinyurl.com/5cwfns), and the world's first bioabsorbable drug-eluting stent (http://tinyurl.com/6pahst) to enter clinical trials. With nearly global availability since July 2008, XIENCE V has quickly gained market leadership based on strong clinical data.

-- Entered high-growth vascular and point-of-care markets through the acquisitions of Perclose and i-STAT and enhanced its leadership position in diabetes care with the purchase of TheraSense.

"Abbott has taken a deliberate approach to acquisitions, identifying and pursuing transactions that either complement our existing portfolio or allow us to enter new innovation-driven markets with leadership potential," said Miles D. White (http://tinyurl.com/5fa29a), chairman and chief executive officer, Abbott. "This strategic approach, combined with our internal R&D efforts, has enabled Abbott to consistently deliver industry-leading performance and generate double-digit returns for our shareholders."

The Deal's readers rated Abbott best on all four of its award criteria: choice of targets and strategy; price paid (or received) compared to value; execution, including integration; and overall quality of the deal team. Companies considered for the survey have a market capitalization of $5 billion or more as of June 30, 2008, and closed the highest number and dollar value of acquisitions and divestitures in the past three years.

About Abbott

Abbott (NYSE: ABT) is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs more than 68,000 people and markets its products in more than 130 countries.

About The Deal LLC

The Deal LLC, (http://www.thedeal.com), is a diversified media company that is the authoritative voice of the deal economy. The Deal LLC serves the global deal community -- corporate and financial dealmakers, advisers and institutional investors -- by providing business and financial news and information that offers fresh insights on the deal economy, a set of interrelated activities, focused on dealmaking of all kinds, whose purpose is to generate corporate growth in a continually changing global market. The Deal LLC offers a comprehensive line of print and electronic products -- The Deal, The Daily Deal and TheDeal.com -- and live annual events including Private Capital Symposium, Distressed Investing Forum, Corporate Dealmaker Forum and M&A Outlook. The Deal LLC, a privately held company, is owned by private investment funds, including U.S. Equity Partners LP, sponsored by Wasserstein & Co. LP.


'/>"/>
SOURCE Abbott
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Abbott to Present at Bear Stearns Healthcare Conference
2. The National Center for Missing & Exploited Children, Wal-Mart, and Abbott Host Child Safety Events
3. Dow Jones Sustainability Index Again Recognizes Abbott for Continued Leadership in Business, Environmental and Social Performance
4. Abbott Declares 335th Consecutive Quarterly Dividend
5. Abbott Again Honored as Top Company for Working Moms
6. Abbotts HUMIRA(R) (adalimumab) Honored With Prestigious Galen Prize for Innovation in Patient Care
7. Abbott Hosts Conference Call for Third-Quarter Earnings
8. Abbott Broadens Use of i-STAT Handheld Blood Analyzer with CLIA Waiver Granted by FDA for CHEM8+ Test Cartridge
9. Abbott Named One of the Best Companies for Hispanics by Hispanic Business Magazine
10. Abbott Again Honored as a Leader in Diversity
11. Abbott Researchers Target Neuronal Nicotinic Receptors for Treatment of Pain and Cognition
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... ... ... a crisis. Her son James, eight, was out of control. Prone to extreme mood shifts ... upset him, he couldn’t control his emotions,” remembers Marcy. “If there was a knife ... and say he was going to kill them. If we were driving on the ...
(Date:6/24/2016)... ... 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 ... by their peers for this recognition are considered among the top 2 percent of ... honors as members of this year’s Legal Elite Hall of Fame: Miami Shareholders ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Comfort Keepers® ... American Cancer Society and the Road To Recovery® program to drive cancer patients to ... and other adults to ensure the highest quality of life and ongoing independence. ...
(Date:6/24/2016)... ... 2016 , ... People across the U.S. are sharpening their pencils and honing ... contest in which patients and their families pay tribute to a genetic counselor by ... Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this September. , In ...
(Date:6/24/2016)... ... 24, 2016 , ... The Haute Beauty Network, affiliated with ... as a prominent plastic surgeon and the network’s newest partner. , Dr. ... handsome men, look naturally attractive. Plastic surgery should be invisible.” He stands by ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... FRANCISCO, Calif. , June 24, 2016 /PRNewswire/ ... ), a biopharmaceutical company developing novel therapeutics for ... unmet needs, today announced the closing of its ... of common stock, at the public offering price ... in the offering were offered by GBT. GBT ...
(Date:6/24/2016)... , June 24, 2016 The Academy of ... recommendations that would allow biopharmaceutical companies to ... entities that make formulary and coverage decisions, a move ... of new medicines. The recommendations address restrictions ... appear on the drug label, a prohibition that hinders ...
(Date:6/24/2016)... -- According to a new market research ... Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, ... Purchase (Retail, Non-Retail) - Trends & Global Forecasts to ... for the forecast period of 2016 to 2021. This ... 2021 from USD 1.65 Billion in 2016, growing at ...
Breaking Medicine Technology: