Abbott Labs

Abbott opens R&D facility, invests $53M

Maureen Martino — Fri, 13 Jun 2008 12:55:22 -0400

Abbott has opened a new Formulation Development Center at its Illinois headquarters. At the R&D facility, researchers will take candidate molecules and formulate them into tablets and capsules for use in in pre-clinical and clinical studies. "The new formulation center is a clear example of Abbott's commitment to advancing scientific innovation," said John Leonard, M.D., senior vice president, Pharmaceuticals, Research and Development, Abbott. "With the growing number of compounds in Abbott's pipeline, the new center utilizes the latest technology to accelerate the development of future medicines."

- see Abbott's release

ALSO NOTED: ASCO news; Acorda shares surge on data; Genentech, Exelixis and Celgene win kudos; and much more...

Mon, 02 Jun 2008 06:59:50 -0400

> Shares of Acorda Therapeutics shot up after researchers released new late-stage data demonstrating that Fampridine consistently improved the walking speeds of MS patients. Release

> Japan's Santen Pharmaceutical and MacuSight have forged a research and development collaboration and license agreement for the Japanese and Asian development and commercialization of sirolimus for ocular diseases and conditions including wet age related macular degeneration and diabetic macular edema. MacuSight gains $50 million upfront. Release

ASCO news:

> Celgene reported that a group of patients with non-Hodgkin's lymphoma responded to Revlimid. Report

> TheStreet put together an interesting scorecard on the top news coming out of the conference. Genentech, Exelixis and Celgene all get a pat on the back for their data. Story

> Poniard is hoping its chemotherapy data will win the attention of a collaborator. Report

> Novartis touted data indicating that RAD001 could be effective against breast cancer. Release

> Antisoma presented positive data for ASA404. Story

> Talk about an image being worth a thousand words. A Wall Street Journal chart tracking new Chantix prescriptions since January shows the kind of downward slope you only want to see on a double black diamond ski run. Report

> To your list of patent-lawsuits-to-watch, add a set of cases over TriCor, the Abbott Laboratories cholesterol med. TriCor is 33 years old, but it's still on patent, thanks to a series of formulation and other tweaks Abbot made along the way. That's no small thing, either: TriCor snared $1.2 billion in 2007 sales. Abbott report

> The European Commission announced it's investigating Sanofi-Aventis for obstructing its big probe of anticompetitive tactics in the drug industry. Report

> Just as the heparin hoopla was starting to settle down, now China is reporting that six patients in Jiangxi province have died after injections of immunoglobulins. Report

And Finally... A new study suggests that children in the Northeastern U.S. suffer from a high rate of cancer. Article

ALSO NOTED: Arqule hires new CEO; Kosan launches mid-stage study; and much more...

Tue, 15 Apr 2008 06:59:50 -0400

> Is the U.S. drug industry bargain-basement land right now? Analysts say that the low, low dollar means low, low prices for pharma companies. Rivals in Asia and the Eurozone could snap up drug companies just like they've bought up Manhattan condos. Report

> Chutes & Ladders: Arqule has hired Paolo Pucci, currently president of the Bayer-Schering Pharmaceuticals Global Oncology/Specialized Therapeutics divisions, as its new CEO. Pucci is taking over in June, following Stephen Hill, who was named the new CEO of Solvay. Report

> Kosan Biosciences has launched a mid-stage study of an experimental therapy for non-small cell lung cancer. Release

> Innogenetics has completed a $9.5 million settlement and licensing agreement with U.S. group Abbott Laboratories, ending a lawsuit. Story

> Medivir has entered into a co-promotions deal with GlaxoSmithKline for the Swedish market. Release

> AstraZeneca investors were jumping for joy this morning when the drugmaker announced it had played Let's Make a Deal with Indian generics maker Ranbaxy. Report

> Remember that drug-safety database Congress required the FDA to set up? Well, the agency is ready to announce its plans--and they don't include setting up a database. Instead, the FDA will contract with insurers, such as WellPoint and UnitedHealth. Report

> A few prominent research doctors are saying "No, thanks," to any payments from drug and device companies. Report

> The FDA's China office is slated to open next month. Report

And Finally... Contrary to what most of us would like to believe, decision-making may be a process handled to a large extent by unconscious mental activity. Release

SPOTLIGHT: Takeda buying out TAP partner

Wed, 19 Mar 2008 07:59:53 -0400

The wire services have been buzzing with reports that Takeda is close to a deal to buy out Abbott Laboratories' 50 percent stake in TAP Pharmaceutical, a joint venture. The stake is worth anywhere from $3 billion to $5 billion and would boost Takeda's rankings among global pharma players from 17th to 14th. Report

ALSO NOTED: Genta inks licensing deal on oncology program; Abbott, et al, target Tarceva gene test; Gilead submits marketing ap

Fri, 07 Mar 2008 06:59:50 -0500

> Genta has entered into an exclusive worldwide licensing agreement with Daiichi Sankyo for the development and commercialization of tesetaxel
(formerly known as DJ-927), a late Phase II oncology therapy. Release

> Millipore has inked a deal with Solabia to market materials used in manufacturing biologics. Release

> Abbott Laboratories' molecular diagnostics unit has joined with Genentech, OSI Pharmaceuticals and Roche to develop a gene test for Tarceva. Release

> Gilead Sciences has submitted a Marketing Authorization Application for marketing approval of aztreonam lysine 75 mg powder for nebuliser solution (aztreonam lysine) in the European Union. Release

> Hovione has purchased 75 percent of Hisyn Pharmaceutical, a Chinese plant that manufactures drug substances. Story

> Novartis will use biomarker detection technology developed by Singulex for its drug development work. Report

> Shareholders have approved the sale of Pharmion to Celgene. Release

This week's most popular story: Pfizer snaps up Serenex in buyout. Report

And Finally... Genetic mutations involving insulin-like growth factor explain why short women live longer. Report

Mystery suitor spurs spike in CeNeS stock

Tue, 05 Feb 2008 06:59:58 -0500

Shares of UK biotech CeNeS Pharmaceuticals rocketed up almost 70 percent after the developer confirmed that it's engaged in talks with a mystery suitor. CeNeS had little to offer to enlighten investors, though, playing its cards close to its vest. Analysts were quick to look to CeNeS' lead product--the painkiller M6G--for a clue to who might be interested in acquiring the company.

One possible buyer is chairman Alan Goodman, who runs Avlar Bioventures. CeNeS shares have been weak, spurring some analysts to speculate it could be just as easy to buy the company as in-license M6G. Big in the pain field: Purdue Pharma, Abbott Laboratories and Boehringer Ingelheim.

- read the report from Dow Jones

Related Article:
CeNeS licenses promising sedative to Ono. Report
Dealmaking stays big even as the markets tremble. Report

ALSO NOTED: Houston develop plots biotech park; Galvus wins EU nod; OncoMethylome inks deal with Abbott; and much more...

Mon, 17 Dec 2007 06:59:50 -0500

> A Houston developer has acquired Tanox's old headquarters--110,000 square feet on 24 acres--and plans to develop it as a biotechnology park. Tanox developed the asthma drug Xolair. Report

> European regulators are recommending approval of Novartis' Galvus. A diabetes drug. Novartis expects to launch the therapy in the first half of next year. Report

> Belgium's OncoMethylome Sciences has struck a deal with Abbott Laboratories to help profile tumors, testing its DNA methylation biomarkers on Abbott's biological samples. Release

> Chutes & Ladders: AlgoNomics has promoted Philippe Stas to CEO. Release

> Novartis and Merck are refocusing their sales efforts away from the doctors who write the prescriptions and toward the insurers that pay for them. Report

> One of Shire's shareholders is crying foul at the drug maker's big management reshuffling announced last week. Report

> Ex-FDA chief David Kessler got the boot at University of California-San Francisco, where he has been dean of the medical school since 2003. Report

> Bristol-Myers Squibb said it was going to retrench, and so it is. The company announced this morning that it would sell its medical imaging unit to the private equity firm Avista Capital Partners for about $525 million. Report

And Finally... A researcher is criticizing the way the U.S. is monitoring the spread of H5N1 in migratory birds, saying U.S. efforts could easily miss the virus as it makes its way into the country. Release

ALSO NOTED: GPC Biotech's CFO resigns; Abbott Labs cuts 1,200 jobs; and much more...

Wed, 05 Dec 2007 06:59:50 -0500

> GPC Biotech's CFO Mirko Scherer has resigned; he will be replaced by Torsten Hombeck, Ph.D. Release

> A new entrant into the layoff club is Abbott Laboratories, which says it's cutting 1,200 jobs in Ireland and California. Report

> Immtech Pharmaceuticals will allow BioAlliance Pharma to commercialize Immtech's oral drug, pafuramidine maleate, in Europe for the treatment of pneumocystis pneumonia in AIDS patients and for the treatment of Human African trypanosomiasis, also known as African sleeping sickness. Release

> Lexicon Pharmaceuticals has begun dosing in a Phase IIa trial of LX6171, an oral drug candidate for the treatment of cognitive impairment associated with disorders such as Alzheimer's disease, schizophrenia, and vascular dementia. Report

> Adventrx Pharmaceuticals has completed patient enrollment in its Phase II trial of ANX-510, or CoFactor, for the treatment of advanced breast cancer. Report

> Preempt away. That's what the Bush Administration told the Supreme Court yesterday, supporting Medtronic's contention that its FDA-approved products shouldn't be subject to liability claims in state court. Report

> Scientists at Johns Hopkins were able to repair damaged skulls by transplanting human embryonic stem cells directly to the site of massive injuries. Report

> A team of scientists in the UK have designed a genetic tool that can disable genes equipped with antibiotic resistance, an approach that could scuttle superbugs like MRSA. Report

> Stimulating an "exercise" gene has a profound therapeutic effect on mice, raising the likelihood that a new drug that can trigger the same effect in humans, could work as a blockbuster antidepressant. Report

> The FDA warned doctors that desmopressin, a drug used to control bed-wetting, can cause some children to have potentially fatal seizures. Report

> Are drug makers responsible for a hospital's medical error? That's what actor Dennis Quaid and his wife are alleging in a lawsuit over the blood thinner given to their newborn twins last month. Report

And Finally... Honey may be an effective and safe alternative than over the counter children's cough medicines, according to a Penn State College of Medicine study. Release

Dry antibiotic pipeline concerns infectious disease experts

Mon, 05 Nov 2007 06:59:55 -0500

The Infectious Diseases Society of America has been beating the drum over a paucity of new antibiotic approvals. With drug developers lured by bigger margins in other disease categories, drug companies began bowing out of this field years ago, says the society. Between '88 and '92 there was an average of three new antibiotic approvals each year. But since 2003 that number has slipped to an average of one new approval a year as Aventis, Abbott Laboratories, Bristol-Myers Squibb, Eli Lilly, Proctor & Gamble, Roche and Wyeth have dropped out of the field or cut research efforts. As a result, physicians say, there are an increasing number of aggressive infections they can't treat.

- read the report

Related Articles:
WHO: Infectious disease a growing threat. Report
The challenges of infectious disease. Report
Study finds alarming spread of MRSA. Report
Targets found for antibiotic development. Report

ALSO NOTED: Enzon sells drug interest; Generex gains new patents; Access plans trials;and much more...

Mon, 20 Aug 2007 06:59:50 -0400

> Enzon has sold a 25 percent interest in the hepatitis C drug Peg-Interferon for $92.5 million. Release

> Generex Biotechnology has been awarded new patents in Europe and Mexico. Release

> Access Pharmaceuticals says that it intends to start new human trials of ProLindac, its novel DACH platinum polymer prodrug. Release

> Score one for Novartis. Its once-yearly treatment for post-menopausal osteoporosis, Reclast, now has the FDA's blessing. FiercePharma

> Abbott Laboratories is opting to reshuffle executive responsibilities rather than filling its No. 2 management slot. FiercePharma

> Use of prescription pain pills has skyrocketed over the past several years, according to a government study. Sales of the five biggest painkillers jumped 90 percent between 1997 and 2005. FiercePharma

And Finally… Researchers say that some parents are too eager to share the results of genetic tests with children who are too young to understand what they are being told. Report

GE, Abbott call off $8.1B diagnostics deal

Fri, 13 Jul 2007 06:59:56 -0400

GE wasn't able to complete its purchase of two diagnostics units from Abbott Laboratories. Last January GE had announced that it would pay $8.1 billion for Abbott's laboratory-testing unit and blood-analysis division. For GE, the move would have greatly expanded its fast-growing healthcare division with a big effort involving in vitro diagnostics, while Abbott was looking to concentrate on more lucrative efforts of its own. GE said that it couldn't agree to a final set of terms and conditions. Analysts say that a recent warning letter regarding an Abbott facility in Irving, Texas may have been at the root of the trouble.

- see Abbott's release
- read the report from the International Herald Tribune

Related Articles:
Abbott deal puts focus squarely on pharma. Report
GE negotiating for Abbott diagnostics unit. Report
JPMorgan, GE make healthcare acquisitions. Report

Press Release: Abbott Laboratories and Genentech to Co-Develop Two Cancer Drugs

Maureen Martino — Tue, 26 Jun 2007 10:32:25 -0400

Abbott Laboratories and Genentech to Co-Develop Two Cancer Drugs

ABBOTT PARK, Ill., and SOUTH SAN FRANCISCO, Calif., June 26 -- Abbott and Genentech, Inc. have formed a collaboration for the global research, development and commercialization of two of Abbott's investigational anti-cancer compounds. The companies will work together on all aspects of further development and commercialization of ABT-263 and ABT-869, which were discovered by Abbott scientists.

The companies will co-promote any resulting products in the United States. Abbott will promote any resulting products outside the United States. Financial terms of the collaboration will not be disclosed.

These compounds are targeted therapies that represent promising, unique scientific approaches to treating cancer. ABT-263, a Bcl-2 family protein antagonist, restores apoptosis -- a natural process by which damaged or unwanted cells die and are cleared from the body -- in a variety of cancer cells. ABT-869, a VEGFR-based multi-targeted kinase inhibitor, suppresses tumor growth by preventing the growth of new blood vessels that supply the tumor with oxygen and nutrients and by inhibiting key angiogenic signaling pathways. Both compounds are currently in Phase I clinical trials in a number of tumor types. Phase II clinical trials for ABT-869 in several tumor types will begin this year.

Beyond those two compounds, scientists at the two companies will use their expertise to conduct additional follow-on research in the area of Bcl-2 family protein antagonists and VEGFR-targeted (vascular endothelial growth factor receptor) kinase inhibitors.

"We hope that the combination of Abbott's scientific discoveries and Genentech's proven experience in the oncology arena can help bring these promising anti-cancer compounds to patients," said John Leonard, M.D., vice president, Global Pharmaceutical Research and Development, Abbott. "It takes significant resources to discover and develop new medicines. We believe that our collaboration with Genentech, in addition to our pipeline of other cutting-edge scientific approaches to fighting cancer, will allow Abbott to build a world-class oncology franchise."

"We are very pleased to be entering into this collaboration with Abbott for the development of therapies that may offer new options to treat patients with cancer," said Hal Barron, M.D., senior vice president, Development and chief medical officer for Genentech. "We believe that these molecules are strong complements to our existing anti-angiogenesis and apoptosis research and development programs and have the potential to broaden our pipeline with important, innovative compounds."

Bcl-2 Family Protein Antagonists (ABT-263)

Apoptosis, also known as programmed cell death, is a natural process by which damaged or unwanted cells, including those that are or could become cancerous, die and are cleared from the body. The Bcl-2 family proteins, which are expressed at high levels in many tumors, play a central role in regulating apoptosis and, consequently, in tumor formation, tumor growth and resistance to treatment. Researchers have been interested in the pro-survival members of the Bcl-2 family since their role in preventing apoptosis was established more than a decade ago. Pioneering structural biology work at Abbott showed how Bcl-2-like proteins interact with one another, thereby setting the stage for Abbott researchers to develop novel compounds that cause cancer cells to self-destruct.

ABT-263 restores programmed cell death by blocking the function of pro-survival Bcl-2 family proteins. Pre-clinical data have shown that Abbott's Bcl-2 family protein antagonists effectively kill certain cancer cell types. Additionally, Abbott Bcl-2 family antagonists were found to enhance the effects of chemotherapy and radiation in other types of cancer, such as non-small cell lung cancer. ABT-263 recently entered Phase I clinical trials for lymphomas, chronic lymphocytic leukemia (CLL) and solid tumors, including small cell lung cancer.

VEGFR-Based Kinase Inhibitors (ABT-869)

Oncology researchers are currently developing agents that target kinases, a class of enzymes that are often overly activated in cancer patients. ABT-869 inhibits a distinct set of kinases that are involved in angiogenesis, a process by which tumors gain access to new blood vessels. Inhibition of these kinases suppresses tumor growth by cutting off tumor blood supply. ABT-869 is currently being tested against several tumor types in Phase I clinical trials. Phase II clinical trials will begin this year.

Abbott's Oncology Pipeline

Abbott is committed to the discovery and development of innovative cancer treatments that enable patients to live longer and healthier lives. Abbott's oncology research is focused on developing more targeted, less toxic therapies than are currently available to improve the quality of life for patients living with cancer.

Abbott scientists are dedicated to exploring a variety of cutting-edge treatments in the fight against cancer. In addition to Bcl-2 family protein inhibitors and kinase inhibitors, other compounds moving through Abbott's oncology development pipeline include:

-- ABT-751, an oral anti-mitotic in Phase II studies for non-small cell lung cancer and neuroblastoma; -- ABT-888, a PARP inhibitor that can prevent DNA damage repair in cancer cells, and thereby enhance the effectiveness of current cancer therapies; -- ABT-828, a biologic anti-tumor agent with a novel mechanism of action.

These compounds are not part of the collaboration with Genentech.

About Genentech

Founded more than 30 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. A considerable number of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes multiple biotechnology products and licenses several additional products to other companies. The company has headquarters in South San Francisco, California and is listed on the New York Stock Exchange under the symbol DNA. For additional information about the company, please visit http://www.gene.com.

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 65,000 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 http://www.abbott.com.

SPOTLIGHT: Abbott teams with Genentech

Tue, 26 Jun 2007 00:01:33 -0400

Abbott Laboratories and Genentech have announced a new collaboration to develop and sell two cancer therapies. The two Abbott drugs-ABT-263 and ABT-869-have been in Phase I trials. No financial terms were disclosed in the announcement. Report

Press Release: General Electric To Acquire Abbott Laboratories's In Vitro And Point-Of-Care Diagnostics Businesses For $8.13B

Maureen Martino — Fri, 19 Jan 2007 10:57:59 -0500

General Electric Company To Acquire Abbott Laboratories's In Vitro And Point-Of-Care Diagnostics Businesses For $8.13 Billion, Broadening Capabilities In Growing Global Industry

FAIRFIELD, Conn. and ABBOTT PARK, Ill. --General Electric Company and Abbott, a global leader in medical diagnostic instruments and tests, announced today that they have entered into a definitive agreement for GE to acquire Abbott’s primary in vitro diagnostics businesses and Abbott Point-of-Care diagnostics business (formerly known as i-STAT) for $8.13 billion in cash. Abbott’s Molecular Diagnostics and Diabetes Care businesses are not part of the transaction and will remain part of Abbott.

The addition of two of Abbott’s core laboratory diagnostics businesses will broaden GE Healthcare’s diagnostic offerings. Abbott’s in vitro diagnostic (in vitro diagnostics test blood or urine samples to diagnose disease or other conditions) complement GE’s existing positions in in vivo diagnostic imaging systems (in vivo imaging uses X-ray, magnetic resonance, ultrasound or other imaging procedures to look at what is in the body to diagnose disease), as well as its molecular imaging, information technology, and patient monitoring capabilities across the complete healthcare continuum.

GE Chairman and CEO Jeffrey R. Immelt, said, “This acquisition is consistent with GE’s strategy to invest in high-technology global infrastructure businesses that deliver strong top-line growth, earnings expansion and expanded margins. Abbott’s diagnostics business is the premier platform in this industry and fits very well with our Healthcare strategy. Abbott’s global position in the growing diagnostics field is aligned with our objective to deliver a comprehensive array of diagnostic products to customers around the world.”

The transaction, which is subject to regulatory approvals and other customary conditions, has been approved by the Boards of Directors of Abbott and GE and is targeted to close in the first half of 2007.

The acquisition reflects GE Healthcare’s strategy to combine early diagnosis with information technology to enable a new "early health" model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention.

Abbott’s in vitro diagnostics business is a global leader with a strong tradition of developing first-of-a-kind products that have helped create the modern diagnostics industry. Abbott is a world leader in immunoassays and blood screening. Abbott’s broad range of medical tests and diagnostic instrument systems are used worldwide by hospitals, laboratories, blood banks, and physician offices to diagnose and monitor diseases such as HIV, hepatitis, cancer, heart failure and metabolic disorders, as well as assess other important indicators of general health.

Abbott Point-of-Care manufactures diagnostic products for blood analysis to provide health care professionals critical diagnostics information accurately and immediately at the point of patient care. In addition to its excellent offerings in the blood gas and chemistries segment, Abbott also provides point-of-care cardiac assays to the emergency room.

Abbott’s in vitro diagnostics business, including Point-of-Care, is expected to generate net sales of approximately$2.7 billion in 2006.

Miles D. White, Abbott’s Chairman of the Board and Chief Executive Officer, said, “The laboratory diagnostics market has changed considerably in the last decade. Innovation in this segment will be increasingly driven by automation, system integration and a host of skills that GE can offer. As part of GE, Abbott’s core diagnostics and point-of-care businesses will be powerfully positioned to sustain and extend their market success.”

For Abbott, the transaction is expected to be neutral to earnings-per-share in 2007 before specified items and accretive thereafter.

GE said the transaction will be accretive to earnings.

Joe Hogan, president and CEO of GE Healthcare, said, “Over the last 5–to-10 years, we have been able to drive organic growth as well as successfully integrate major acquisitions like Amersham in a way beneficial to employees and investors. Through this acquisition, we create the opportunity to integrate our broad-based competencies in diagnostics, life sciences and healthcare information technology. In-vitro diagnostics and in vivo imaging continue to become more important in providing comprehensive diagnostic solutions. Our capabilities combined with Abbott’s in vitro diagnostics and point-of-care diagnostic businesses will allow GE to provide customers with better tools for the full care continuum, enhancing their decision-making capabilities in key disease areas such as oncology and cardiology, and enabling early disease detection, diagnosis and treatment. ”

GE will discuss this transaction as well as preliminary fourth-quarter and full-year results on a conference call and webcast at 8:30 a.m. ET on Friday, Jan. 19. Call information is available at www.ge.com/investor and related charts will be posted there prior to the call.

About GE

GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.

About GE Healthcare

GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform and treat disease, so their patients can live their lives to the fullest.

GE Healthcare's broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases, and other conditions earlier. Our vision for the future is to enable a new "early health" model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a $15 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 43,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.

Caution Concerning Forward-Looking Statements

Results are preliminary and unaudited. This document contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties which could adversely or positively affect our future results include: the behavior of financial markets, including fluctuations in interest rates and commodity prices; strategic actions, including dispositions; future integration of acquired businesses; future financial performance of major industries which we serve, including, without limitation, the air and rail transportation, energy generation, media, real estate and healthcare industries; unanticipated loss development in our insurance businesses; and numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

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 65,000 people and markets its products in more than 130 countries.

About Abbott Diagnostics

Abbott Diagnostics is a global leader in in vitro diagnostics. With more than 69,000 institutional customers in more than 100 countries, Abbott’s diagnostic products offer customers automation, convenience, cost effectiveness and flexibility.

Abbott’s core laboratory diagnostics business products include: automated blood screening systems to detect infectious agents such as HIV and strains of hepatitis in donated blood and plasma; immunodiagnostics instruments and tests that measure antibody or antigen reactions to detect disease; clinical chemistry instruments and reagents to measure and monitor glucose, electrolytes, enzymes, proteins and lipids as indicators of patient health; hematology systems that perform sophisticated blood cell analyses; and automation systems and software solutions to help laboratories integrate equipment, reduce errors and enhance productivity.

About Abbott Point of Care

Abbott Point of Care, headquartered in East Windsor, New Jersey, develops, manufactures and markets critical medical diagnostic and data management products for rapid blood analysis. The company's premier product is the i-STAT System, a market-leading hand-held blood analyzer used in emergency departments, surgical suites, neonatal intensive care units and other critical care settings that is capable of performing a panel of commonly ordered blood tests on two or three drops of blood at the patient's bedside.

Utilizing 18 different self-contained test cartridges, the i-STAT System delivers lab-accurate testing for blood gases, electrolytes, chemistries, coagulation, hematology, glucose and cardiac markers in just minutes. By providing these critical test results rapidly, health care providers can quickly monitor and effectively manage their patients' care.

Abbott's Private Securities Litigation Reform Act of 1995

A Caution Concerning Forward-Looking Statements

Some statements in this news release may be forward-looking statements for the purposes of the Private Securities Litigation Reform Act of 1995. We caution that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A, "Risk Factors," and Exhibit 99.1 to our Annual Report on Securities and Exchange Commission Form 10-K for the year ended Dec. 31, 2005 and in Item 1A, "Risk Factors," to our Quarterly Report on Securities and Exchange Commission Form 10-Q for the period ended March 31, 2006, and are incorporated by reference. We undertake no obligation to release publicly any revisions to forward-looking statements as the result of subsequent events or developments.

Contacts General Electric Co. GE Healthcare Brian McKaig 262-544-3937 O 414-477-6522 C brian.mckaig@ge.com Val Jones +44 1494 498052 O +44 7917 175192 C val.jones@ge.com GE Corporate Russell Wilkerson, 203-373-3193 russell.wilkerson@ge.com or Abbott: Media Melissa Brotz, 847-935-3456 melissa.brotz@abbott.com Investors John Thomas, 847-938-2655 john.b.thomas@abbott.com

Abbott deal puts focus squarely on pharma

Thu, 18 Jan 2007 19:01:37 -0500

There's a lot of buzz being generated by Abbott Laboratories' deal to sell a big part of its diagnostics business to GE for more than $8 billion. That deal leaves Abbott much more focused on the pharmaceutical end of the business. One particularly interesting nugget from Avery Johnson's report in the Wall Street Journal: Abbott has developed its own software program to evaluate the risk and potential returns of each new research project it undertakes. Abbott is likely to need all the help it can muster as it tries to persuade analysts that the company can improve its pipeline and create new drugs to take the place of therapies losing patent protection.

- see this press release on the deal
- read the Wall Street Journal's report (sub. req.)

Related Articles:
GE negotiating for Abbott diagnostics unit. Report
JPMorgan, GE make healthcare acquisitions. Report

GE negotiating for Abbott diagnostics unit

Wed, 17 Jan 2007 19:01:37 -0500

Several news reports have surfaced that General Electric is close to a deal to buy the diagnostics unit of Abbott Laboratories for about $5 billion. A deal would greatly increase the size of GE's healthcare business, which has been focused on expanding its presence in IT as well as molecular diagnostics.

- read the AP's report on the talks

Related Articles:
JPMorgan, GE make healthcare acquisitions. Report
Abbott documents reveal plan to boost AIDS drug sales. Report

SPOTLIGHT: FDA expands Humira approval

Mon, 13 Nov 2006 19:01:33 -0500

The FDA has expanded its approval of Abbott Laboratories' Humira for psoriatic arthritis. The drug can be used to inhibit structural damage and improve physical activity in patients. The agency approved Humira for psoriatic arthritis a year ago. Report

DEALS: Abbott buys Kos in $3.7B deal

Wed, 08 Nov 2006 19:01:32 -0500

Abbott buys Kos in $3.7B deal

DEALS
WHO	WITH	WHAT	SCOOP
Abbott Laboratories	Kos Pharmaceuticals	$3.7B buyout	Kos makes Niaspan and Advicor, which boost "good" cholesterol, and is in late-stage development of Simcor.
Merck	Sirna Therapeutics	$1.1B buyout	Sirna's lead drug candidate, Sirna-027, is being developed as a treatment for wet, age-related macular degeneration.
Allergan	Groupe Corneal Laboratoires	$216M buyout	Allergan, which makes Botox, plans to separate the French companies' aesthetic and ophthalmic business with an eye to selling the ophthalmic division.
Wyeth	Ablynx	$212M licensing deals	Ablynx has agreed to license its Nanobodies technology to Wyeth.
Lonza	Genentech	$150M purchase	Switzerland's Lonza has struck a deal to buy a manufacturing plant in Spain from Genentech.
Inspire Pharmaceuticals	FAES Farma	$89M licensing deal	Inspire Pharmaceuticals gains U.S. and Canadian licensing rights to bilastine.
Wyeth	Inovio Biomedical	$64.5M deal	Wyeth will use Inovio Biomedical's DNA delivery technology for certain DNA vaccines in development.
Roche	InterMune	$60M deal	Roche has signed a deal to develop InterMune's experimental therapy for hepatitis C.
Biomira	ProlX Pharmaceuticals	$23.9 buyout	The acquisition will give Biomira control of Stimuvax, a synthetic MUC1 peptide vaccine now in Phase III, and PX-12, a thioredoxin inhibitor which is headed into Phase II.
Cephalon	Ambit	$18 deal	Cephalon is gaining access to Ambit's proprietary KinomeScan technology.
Merck	J. David Gladstone Institutes	$3.25M collaboration and licensing pact	The groups have signed a collaboration and licensing pact for the research and development of drugs to treat neurodegenerative diseases.

Abbott to buy Kos for $3.7B

Sun, 05 Nov 2006 19:01:38 -0500

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. Analysts said the deal makes sense for Abbott, which wants to boost its presence in the field of cholesterol control. It was also the latest example of a drug developer being wooed by an offer they couldn't resist.

- here's the AP report on the deal

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SPOTLIGHT: FDA to give Humira priority review for Crohn's

Thu, 26 Oct 2006 20:01:33 -0400

Abbott Laboratories says that the FDA will give its anti-inflammatory drug Humira a priority review as a treatment for Crohn's disease. The priority review will move up a decision on Humira into early March, cutting four months off the timetable. To back up its application for Humira, Abbott submitted data from a trial of volunteers who had not responded to the monoclonal antibody Remicade (infliximab) made by Centocor. In Crohn's disease inflammation of the digestive tract causes pain and diarrhea. Humira has already been approved for rheumatoid arthritis and other conditions. Report