Abbott will buy two mitral valve replacement startups, moving it even further into med tech after a series of high-profile deals last year. It obviously sees the sector as a way for it to plan for long-term growth--since its innovative biopharma candidates went with AbbVie when the companies split in early 2013.
Mylan can breathe a little easier knowing it has support from its largest shareholder in its quest to pick up Perrigo. After all, it's not just a big buyout at stake--but the opportunity to thwart its own unwanted takeover by generics rival Teva.
Abbott just announced the CE marking of its latest Absorb bioresorbable stent at the annual EuroPCR conference in Paris. The device is called the Absorb GT1, in reference to its GlideTrak delivery catheter, which is supposed to make it easier for doctors to access and treat diseased vessels among coronary artery disease patients.
A study presented at the annual Heart Rhythm Society meeting in Boston found that Abbott's percutaneous MitraClip mitral valve repair device cut the number of ventricular tachyarrhythmia episodes in half following implantation in patients who had a prior cardiac rhythm device like a pacemaker or implantable cardioverter defibrillator.
Last year, Mylan forked over millions to cover its top execs' tax liability on its deal with Abbott Laboratories, which shifted its tax domicile to Europe. Investors weren't so lucky--and now, they may take another tax hit if Mylan joins up with suitor Teva.
Abbott and GE Healthcare are teaming up for a diagnostics collaboration aimed at improving treatment for patients with atrial fibrillation, planning to combine the companies' innovative technology to speed up diagnosis for individuals with heart rhythm disorders.
Abbott is teaming up with biotech heavyweight AstraZeneca to develop companion diagnostic tests for the company's investigational asthma therapy, a potentially fruitful alliance as Abbott rides the tailwinds of promising diagnostic sales.
Abbott announced FDA clearance of its FreeStyle Precision Neo Blood Glucose Monitoring System as an over-the-counter product, and said it is the cheapest device in the diabetes meter and test strips arena.
In a show of force, the Department of Justice just announced two fines against providers for healthcare fraud under the False Claims Act totaling more than $10 million. The news coincided with release of an annual report on healthcare fraud, which claims that the feds recovered $3.3 billion in fiscal year 2014.
For the first couple of years after AbbVie's debut as an independent pharma company, its CEO, Richard Gonzalez, didn't quite follow in Abbott Laboratories CEO Miles White's footsteps compensation-wise, collecting a mere $8 million in 2012 pay. But for 2014, Gonzalez's total compensation amounted to $22 million, according to AbbVie's proxy statement.