The earnings reports for the biggest of Big Pharma are all in. Bayer reported last week, making it possible to see how they stacked up as they came into the new year. There are no big surprises....
Five days after the FDA announced it would investigate the heart and stroke dangers of testosterone-enhancing drugs, 5 lawsuits were filed against Abbott Laboratories and its spinoff AbbVie by men who claimed they suffered heart attacks or strokes after using one of those products, AndroGel.
Puerto Rico built up its pharma manufacturing hub around tax breaks for the industry. But its plants have become more vulnerable to cuts since those tax breaks were phased out, and the island has taken some tough hits in the last year. Now Abbott Laboratories will add to the drain, saying it will close a plant there.
Abbott Laboratories is cutting jobs, with plans to whack a plant in Puerto Rico as well as laying off staff at its Chicago-area headquarters. The company just won't say how many jobs are on the chopping block.
Abbott Laboratories laid off an unspecified number of workers at its headquarters on Tuesday. The decision is part of the company's plan to reduce expenses, according to a statement.
Abbott's diagnostics sales soared during the 2013 fourth quarter and medical device numbers also grew at a moderate clip. As well, emerging-market sales climbed strongly. But net earnings plunged, without the Illinois company's old pharmaceutical business to prop things up.
Abbott Laboratories is in the midst of a voluntary recall of some test strips for its blood glucose meters, and now the FDA is warning that use of the faulty products could lead to serious injury or death.
Abbott Laboratories will pay nearly $5.5 million to settle a whistleblower lawsuit alleging it paid doctors to encourage the purchase of its various stents and implant products.
Abbott Laboratories acknowledged that a number of its glucose test strips may produce bogus low blood-glucose results when used with certain older-model meters, so executives turned to a voluntary recall as a safety precaution.
San Diego's Volcano is facing shareholder pressure to boost its value and find itself a buyer, and analysts believe the intravascular device company could be an ideal target for med tech giants Abbott Laboratories and Medtronic.