Abbott Laboratories' sales of medical devices slipped by 3.9% to $1.4 billion in the fourth quarter of 2014 over the same period a year earlier. The company is looking to gain traction in medical devices with its entrance into the electrophysiology market with the December completion of its Topera acquisition.
Abbott Laboratories' diagnostics unit charted sizable gains in 2014, and the company is continuing its upward momentum in the new year with an exclusive licensing deal with the Institut Curie.
Once again, long-term care pharmacy Omnicare is at the center of a Department of Justice kickback probe. This time, the drugmaker in focus is Abbott Laboratories. The drug, Depakote.
Abbott Laboratories snagged a CE mark for its molecular diagnostic platform for blood-related infections, continuing its diagnostics winning streak and moving the company one step closer to securing stateside approval for its product.
Abbott Laboratories is hitching its wagon to growth in emerging markets, rolling out an expanded branding campaign to cozy up with consumers and amp up its presence abroad.
Rumors have been circulating in recent weeks that the French CEO of Smith & Nephew, Olivier Bohuon, would jump ship to run Paris-based Sanofi. But Bohuon told employees at a town hall meeting that he is "very happy" at Smith & Nephew, and several people with knowledge of the matter said he isn't planning to leave.
Planning to expand its production capacity in Russia and the former Soviet Republic, Germany's Fresenius Kabi agreed this year to partner up with Binnopharm, a Moscow-based drugmaker that has two manufacturing facilities making IV drugs, infusion solutions and active pharmaceutical ingredients, not unlike Fresenius. But the political situation in Russia has made that too difficult, so Fresenius and Binnopharm are exploring other ways to work together.
Abbott made separate announcements related to devices focused on the eyes. The first was for a deal it reached with Carl Zeiss Meditec to sell the Swiss lensmaker's cataract surgery products alongside its own ocular surgery devices.
Abbott Laboratories, which has made a large bet on its global nutrition business, is in the final throw of a manufacturing triple play. The Chicago-area company this week opened a nutrition products plant in India after opening plants in the U.S. and China several months ago.
The U.S. Department of Defense has bestowed $100 million in contracts with three med tech companies. The recent awardees include Abbott Laboratories, Impact Instrumentation and BrainScope. The BrainScope grant will go to further R&D for its traumatic brain injury assessment system, while the other two were for medical equipment.