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Abbott Buys AP214 Hormone From Action Pharma For $110 Million

DOW JONES NEWSWIRES Abbott Laboratories (ABT) took another step to enhance its renal-care pipeline by agreeing to acquire AP214, a hormone analogue that may prevent acute kidney injury during cardiac surgery, from Action Pharma A/S for $110 million in cash. The health-care company has been on a buying spree in recent years in order to reduce its dependence on the anti-inflammatory Humira as the drug's U.S. patent expires in late 2016. Abbott also is in the midst of separating into two publicly traded companies: a medical-products business and a pharmaceutical company to be named AbbVie. Abbott will acquire all global rights to develop and market AP214, and will be responsible for funding all future development and commercialization activities. No later milestone payments or royalties will be paid to the Danish biotech company Action Pharma. Abbott currently has two investigational treatments in development for chronic kidney disease: Bardoxolone, which is in Phase 3 development with Reata Pharmaceuticals, and Atrasentan, a compound discovered by Abbott being evaluated in a Phase 2b study. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Abbott Labs (ABT)
DateTimeHeadline
04/29/201617:37:57Statement of Changes in Beneficial Ownership (4)
04/29/201603:03:00Abbott to Acquire St. Jude -- WSJ
04/29/201602:00:00Alere Says It Rejected Abbott Offer to Terminate Merger Deal
04/29/201601:53:00Alere Says It Rejected Abbott Offer to End Their Merger Deal
04/28/201617:42:00Abbott Agreed to Buy St. Jude in $25 Billion Deal--6th Update
04/28/201610:19:00Abbott Agreed to Buy St. Jude in $25 Billion Deal--5th Update
04/28/201608:35:00Abbott Agreed to Buy St. Jude in $25 Billion Deal--4th Update
04/28/201608:30:00St. Jude Medical (STJ) ALERT: Johnson & Weaver, LLP Launches...
04/28/201608:25:00Abbott Agreed to Buy St. Jude in $25 Billion Deal--3rd Update
04/28/201608:10:00Abbott Agreed to Buy St. Jude in $25 Billion Deal--2nd Update
04/28/201608:04:00Abbott Laboratories Acquisition
04/28/201607:57:00Abbott Agreed to Buy St. Jude in $25 Billion Deal--Update
04/28/201607:50:00Abbott Agreed to Buy St. Jude in $25 Billion Deal
04/28/201607:35:00Abbott Agreed to Buy St. Jude in $25 Billion Deal
04/28/201607:08:16Current Report Filing (8-k)
04/28/201606:50:00Abbott to Acquire St. Jude Medical
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04/21/201609:00:00Abbott Introduces New Services and Tools to Help Labs Deliver...
04/20/201612:21:00Abbott Laboratories Revenue Hurt by Currency Exchange -- Update
04/20/201612:04:00Abbott CEO Declines to Confirm Commitment to Alere Acquisition

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