Abbott made separate announcements related to devices focused on the eyes. The first was for a deal it reached with Carl Zeiss Meditec to sell the Swiss lensmaker's cataract surgery products alongside its own ocular surgery devices.
Abbott Laboratories, which has made a large bet on its global nutrition business, is in the final throw of a manufacturing triple play. The Chicago-area company this week opened a nutrition products plant in India after opening plants in the U.S. and China several months ago.
The U.S. Department of Defense has bestowed $100 million in contracts with three med tech companies. The recent awardees include Abbott Laboratories, Impact Instrumentation and BrainScope. The BrainScope grant will go to further R&D for its traumatic brain injury assessment system, while the other two were for medical equipment.
Abbott Laboratories will invest $60 million in an intraocular lens manufacturing plant in Malaysia. The plant is expected to employ about 500 people and to be operational next year, producing 1 million sets of IOLs a year.
Abbott Laboratories and the United States Department of Defense are collaborating to develop a test that can be used to assess potential concussions quickly in the field. Abbott's handheld diagnostic i-Stat System is already in use by the military; the test will be developed for use on it.
Abbott Laboratories reported solid sales gains in its core laboratory and point-of-care diagnostics lines during the 2014 second quarter, thanks to larger testing volumes and new products.
We know plenty of Big Pharma companies are hawking portfolios of old products. What we don't know is who might buy them. One answer came earlier this week, when Mylan said it would acquire an ex-U.S. portfolio of Abbott Laboratories meds in a $5.3 billion stock swap. Now, it might be Sanofi's turn--and Mylan and Abbott are part of that chatter, too.
Mylan has been hunting for a buy. Now, it's found one. The Pittsburgh-based generics specialist is buying a big chunk of Abbott Laboratories' drug business, in a stock swap worth $5.3 billion. With $2 billion in annual sales, the products would jack up Mylan's top line by almost 30%.
Boston Scientific's Guidant subsidiary faces more legal pushback in its ongoing breach-of-contract lawsuit against Johnson & Johnson, as a federal judge denied the company's request to toss out the case.
Abbott Laboratories said Monday it will establish its manufacturing bona fides by buying Russian drugmaker Veropharm and its four manufacturing plants.