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The Deal Names Abbott Top Dealmaker for Second Consecutive Year
Date:11/19/2009

ABBOTT PARK, Ill., Nov. 19 /PRNewswire-FirstCall/ -- The Deal magazine has named Abbott (NYSE: ABT) as one of its Most Admired Corporate Dealmakers for the second consecutive year. The Deal honored Abbott as its Most Admired Dealmaker in pharma/biotech for the most effective strategic use of acquisitions and divestitures since January 2006.

Over the past decade, Abbott has reshaped its business portfolio with a focus on high-growth, innovation-driven businesses with market-leading potential. In the past 12 months, Abbott has initiated more than $10 billion in strategic transactions that have diversified product and pipeline portfolios, added new technology and accelerated expansion into key global emerging markets.

"Abbott has a strong and successful track record of acquiring small- to mid-size companies and technologies with the potential for long-term growth and market leadership," said Miles D. White, chairman and chief executive officer, Abbott. "Over the past 12 months, Abbott has announced seven strategic acquisitions that will enhance the diversity of our portfolio and expand our global reach to deliver industry-leading returns to our shareholders."

In 2009, Abbott has:

  • Announced the purchase of a novel compound in development to treat chronic pain, enhancing Abbott's early-stage pharmaceutical pipeline.
  • Announced its intent to acquire Solvay Pharmaceuticals, complementing its existing portfolio and expanding infrastructure in key global emerging markets.
  • Acquired Evalve, entering the emerging field of non-surgical treatment for heart valve repair.
  • Purchased Visiogen, gaining a next-generation technology to treat cataracts.
  • Announced plans to acquire the nutrition business of Wockhardt, Ltd., positioning Abbott to be a leader in India.
  • Purchased Advanced Medical Optics, gaining immediate leadership in the multi-billion dollar eye care market.
  • Enhanced its leading-edge technology in diagnostic testing and surveillance with the addition of award-winning IBIS Biosciences.

Other key acquisitions within the timeframe for award consideration:

  • Purchased Kos Pharmaceuticals, immediately enhancing Abbott's existing franchise and portfolio strength in the $20 billion lipid management market with Niaspan® (niacin extended-release tablets), a best-in-class therapy for raising HDL "good" cholesterol.
  • Acquired Guidant's vascular business, providing Abbott with the current market-leading drug-eluting stent, XIENCE V(TM), and the world's first bioabsorbable drug-eluting stent to enter clinical trials.

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, 2009, and closed the highest number and dollar value of acquisitions and divestitures in the past three and a half years.

About The Deal LLC

The Deal LLC, (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.

About Abbott

Abbott 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 72,000 people and markets its products in more than 130 countries.

Abbott's news releases and other information are available on the company's Web site at www.abbott.com.

SOURCE Abbott


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SOURCE Abbott
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