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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
07/30/201517:54:07Statement of Changes in Beneficial Ownership (4)
07/30/201517:53:13Statement of Changes in Beneficial Ownership (4)
07/30/201513:28:10Correction to Abbott Labs Deals Story
07/30/201512:24:12Abbott Labs Reaches Deals for Transcatheter Mitral-Valve Developers
07/30/201511:37:32Abbott Laboratories Acquisition
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07/22/201510:00:07Abbott Labs Profit Beats Expectations
07/22/201509:51:01Abbott Labs Profit Beats Expectations
07/22/201507:54:32Current Report Filing (8-k)
07/22/201507:45:00Abbott Reports Second-Quarter 2015 Results
07/20/201509:00:00Abbott's iDesign System Creates 3-D Map of the Eye for Precise...
07/06/201513:06:06Teva May Raise Offer for Mylan to Range of $86 to $88 a Share...
07/02/201517:08:15Statement of Changes in Beneficial Ownership (4)
07/02/201517:07:46Statement of Changes in Beneficial Ownership (4)
07/02/201517:07:22Statement of Changes in Beneficial Ownership (4)
07/02/201517:06:55Statement of Changes in Beneficial Ownership (4)
07/02/201517:06:03Statement of Changes in Beneficial Ownership (4)
07/02/201517:05:36Statement of Changes in Beneficial Ownership (4)
07/02/201517:05:10Statement of Changes in Beneficial Ownership (4)

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