18.02.2010 • NewsAbbottSolvayMergers & Acquisitions (M&A)

Abbott Completes Acquisition of Solvay Pharmaceuticals

Abbott has completed its €4.5 billion acquisition of Belgium-based Solvay Pharmaceuticals. The acquisition gives the U.S.-based healthcare company a large and complementary portfolio of pharmaceutical products and gives the company entry into key global emerging markets.

Based on the timing of the close, Abbott expects the acquisition to add approximately $2.9 billion to Abbott's 2010 total reported sales, the majority outside the U.S., and add approximately $500 million to Abbott's annual pharmaceutical R&D investment.

Werner Cautreels, chief executive officer of Solvay Pharmaceuticals, will serve in a transitional role and will then leave the company. The impact of the Solvay Pharmaceuticals acquisition has been reflected in Abbott's previously issued earnings-per-share guidance for the first-quarter and full-year 2010. The transaction also includes payments of up to €300 million if certain sales milestones are met between 2011 and 2013.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.