Awards Recognize Industry-Leading Companies That Demonstrate Effective Global Mergers and Acquisitions Strategy
ABBOTT PARK, Ill., Sept. 20, 2011 /PRNewswire/ -- The Deal magazine has named Abbott (NYSE: ABT) as one of its Most Admired Corporate Dealmakers for the fourth consecutive year. Abbott was recognized by The Deal for the most effective and consistent use of acquisitions and divestitures in the healthcare sector since January 2008.
Since 2008, Abbott has completed a number of strategic acquisitions that have enhanced the company's diversity, developmental pipeline and geographic reach, particularly in fast-growing emerging markets. In 2011, Abbott has licensed two investigational compounds to complement its existing pharmaceutical portfolio in immunology and oncology.
"Acquisitions and in-licensing are a key part of our strategy to complement internal research and development, expand our global presence to generate leadership in emerging markets and enhance the diversity of our businesses," said Miles D. White, chairman and chief executive officer, Abbott. "We're pleased that The Deal has continued to recognize Abbott for its strategic M&A work."
Key transactions since 2008:
- Purchased Piramal Healthcare Solutions, bringing immediate market leadership in India, one of the world's fastest growing pharmaceutical markets.
- 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.
- Gained access to the emerging field of non-surgical heart valve repair through the acquisition of Evalve.
- Acquired exclusive rights to bardoxolone, a novel investigational compound to treat chronic kidney disease, in key international markets.
- Diversified its medical products portfolio with the addition of Advanced Medical Optics, a leader in the multi-billion dollar eye care market.
The Deal's readers rated Abbott best on the award criteria: overall strategy and choice of targets; value (price paid/received relative to value extracted); execution, including integration; and quality of the deal team. Companies considered for the survey have a market capitalization of $5 billion or more as of Dec. 31, 2010 and closed the highest number and value of transactions over a three-year period ended Dec. 31, 2010.
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.
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.