TIDMABT
RNS Number : 6021Z
Abbott Laboratories
12 December 2014
Abbott Completes Acquisition of Veropharm
ABBOTT PARK, Ill., Dec. 11, 2014 - Abbott today announced that
it has acquired control of Veropharm, a leading Russian
pharmaceutical manufacturer.
Abbott has had a presence in Russia for nearly 40 years and, in
line with its long-term commitment to growing global healthcare
markets and capabilities, the company is committed to providing a
reliable supply of its healthcare products to Russian patients.
Through this acquisition, Abbott establishes a manufacturing
footprint in Russia through Veropharm's production facilities,
which include a new manufacturing facility currently under
construction. Abbott also obtains a portfolio of medicines that is
well aligned with its current pharmaceutical therapeutic areas of
focus in women's health, central nervous system, cardiovascular and
gastroenterology, while adding an offering in the field of oncology
and pharmaceutical R&D capabilities for Russia.
Abbott acquired control of Veropharm for 16.7 billion rubles (or
approximately $305 million U.S. dollars) through its purchase of
Limited Liability Company Garden Hills, the holding company that
currently owns approximately 98 percent of Veropharm. Abbott will
fund the transaction with cash on the company's balance sheet. The
transaction will not impact ongoing earnings-per-share guidance for
2014.
About Abbott
Abbott is a global healthcare company devoted to improving life
through the development of products and technologies that span the
breadth of healthcare. With a portfolio of leading, science-based
offerings in diagnostics, medical devices, nutritionals and branded
generic pharmaceuticals, Abbott serves people in more than 150
countries and employs approximately 69,000 people.
Abbott has been operating in Russia since 1978 with its Russian
operations headquartered in Moscow.
-more-
Abbott's news releases and other information are available on
the company's websites, www.abbott-russia.ru and www.abbott.com.
Connect with us on Twitter at @AbbottNews.
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 purposes of the Private Securities Litigation Reform
Act of 1995. Abbott cautions that these forward-looking statements
are subject to risks and uncertainties that may cause actual
results to differ materially from those indicated in the
forward-looking statements. Economic, competitive, governmental,
technological and other factors that may affect Abbott's operations
are discussed in Item 1A, "Risk Factors," to our Annual Report on
Securities and Exchange Commission Form 10-K for the year ended
Dec. 31, 2013, and are incorporated by reference. Abbott undertakes
no obligation to release publicly any revisions to forward-looking
statements as a result of subsequent events or developments, except
as required by law.
CONTACTS: US. Media:
Scott Stoffel -
(224) 668-5201
Russia:
Irina Gushchina
+7 909 167 96 12
Financial:
Brian Yoor
(224) 667-6343
Scott Leinenweber
(224) 668-0791
###
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQTTBATMBBBMMI
Subscribe to WSJ: http://online.wsj.com?mod=djnwires