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Abbott to buy Kos for $3.7B
Looking for a quick leg up in the blockbuster world of cholesterol management, Abbott Laboratories has struck a deal to buy Kos Pharmaceuticals for $3.7 billion. The deal will pay stockholders $78 a share compared to Friday's close of $50.09, a 56 percent premium. Kos makes Niaspan and Advicor, which boosts "good" cholesterol, and is in late-stage development of Simcor. Simcor combines Niaspan and Zocor, which cuts bad cholesterol. Kos also has programs for asthma and inhaled insulin. …
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