Awards Recognize Industry-Leading Companies That Demonstrate Effective Strategic Use of Mergers and Acquisitions Over Past Three Years
ABBOTT PARK, Ill., Sept. 20 /PRNewswire-FirstCall/ -- The Deal magazine has named Abbott (NYSE: ABT) as one of its Most Admired Corporate Dealmakers for the third consecutive year. The Deal honored Abbott as its Most Admired Dealmaker in pharma/biotech for the most effective and consistent use of acquisitions and divestitures since January 2007.
Over the past 24 months, Abbott has successfully executed on a number of strategic acquisitions that have enhanced the company's diversity, geographic reach and pipeline, and positioned the company for leadership in new, fast-growing markets. Recently, the company completed its acquisition of Piramal Healthcare Solutions, bringing immediate market leadership in India, the world's second-fastest growing pharmaceutical market.
"Abbott is honored to again be recognized by The Deal for our track record of acquisitions," said Miles D. White, chairman and chief executive officer, Abbott. "In 2010, Abbott has successfully executed on a series of transactions to establish a leading presence in emerging markets, enhance its pharmaceutical pipeline and capitalize on global growth opportunities to drive continued top-tier performance."
In 2010, Abbott has:
- Acquired Solvay Pharmaceuticals, complementing and diversifying its pharmaceutical portfolio and expanding Abbott's presence in key global emerging markets.
- Purchased Facet Biotech, adding innovative oncology and neuroscience compounds to existing research expertise.
- Announced a licensing agreement with Zydus Cadila to promote a portfolio of pharmaceutical products in 15 high-growth emerging markets.
- Acquired a novel investigational biologic compound to treat chronic pain, enhancing Abbott's early-stage pharmaceutical pipeline.
- Announced a collaboration with Neurocrine and Pierre Fabre to develop and commercialize treatments for endometriosis and oncology, respectively.
The Deal's readers rated Abbott best on the award criteria: choice of targets and strategy; price paid (or received) compared to value; execution, including integration; and overall quality of the deal team. Companies considered for the survey have a market capitalization of $5 billion or more as of Dec. 31, 2009, closed the highest number and value of transactions and generated the largest increase in market capitalization over a three-year period ended Dec. 31, 2009.
About The Deal LLC
The Deal LLC (www.TheDeal.com) is a diversified media and information company. We report, analyze and disseminate business and financial news and data that offer fresh insights on the deal economy, a set of interrelated activities, focused on dealmaking of all kinds, whose purpose is to generate corporate and capital growth in a continually changing global market. We serve the global deal community – corporate and financial dealmakers, advisers and institutional investors – with The Deal Pipeline, a transaction information service, and The Deal magazine, a business and financial magazine, website and event brand. The Deal LLC, a privately held company, is owned by private investment funds sponsored by Wasserstein & Co. LP.
About Abbott
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs nearly 90,000 people and markets its products in more than 130 countries.
Abbott's news releases and other information are available on the company's Web site at www.abbott.com.
SOURCE Abbott