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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
02/17/201716:21:14Annual Report (10-k)
02/17/201716:05:59Current Report Filing (8-k)
02/17/201711:25:00Abbott Declares 373rd Consecutive Quarterly Dividend
02/16/201702:00:00Real-World Data from Abbott's FreeStyle® Libre Show Association...
02/15/201717:06:16Statement of Changes in Beneficial Ownership (4)
02/15/201708:30:00Real-World Data from Abbott's FreeStyle® Libre Show Association...
02/15/201702:00:42ABT - New routines for financial reporting - Updated financial...
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02/09/201706:03:14Amended Statement of Ownership (sc 13g/a)
02/07/201717:03:44Statement of Changes in Beneficial Ownership (4)
02/04/201703:02:00Abbott Labs CEO Had a 2nd Career -- WSJ
02/03/201705:59:00Robert Schoellhorn Found New Career After Serving as Abbott Labs...
02/02/201717:33:31Statement of Changes in Beneficial Ownership (4)
02/02/201717:33:06Statement of Changes in Beneficial Ownership (4)
02/02/201708:00:00U.S. FDA Grants Abbott the First Commercial Authorization for...
02/01/201708:00:00Abbott Announces U.S. Approval for its Assurity MRI™ Pacemaker, t...
01/25/201717:05:42Initial Statement of Beneficial Ownership (3)
01/25/201711:00:00European Commission Clears Abbott Acquisition of Alere
01/25/201709:37:00Abbott Labs Profit Rises, But Nutrition Business Struggles
01/25/201708:02:19Current Report Filing (8-k)

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