logo
Share SHARE
FONT-SIZE Plus   Neg

Abbott To Buy AP214 From Action Pharma - Quick Facts

Abbott (ABT) and Action Pharma A/S, a privately owned company, have reached an agreement in which Abbott would acquire AP214 from Action Pharma. The company said this acquisition would enhance Abbott's pipeline in renal care. Abbott has two investigational treatments in development for chronic kidney disease.

Pursuant to the deal, Abbott would buy all global rights to develop and commercialize AP214 for the prevention of AKI and other relevant indications. Abbott would provide a cash payment of $110 million to Action Pharma and woul be responsible for funding all future development and commercialization activities regarding AP214. No later milestone payments or royalties would be paid to Action Pharma.

Abbott expects to incur a one-time specified item in the second quarter of 2012, related to this payment.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Small businesses, who want to use Twitter to connect with their customers, have a new helper. The online social networking service provider has launched a standalone application: Twitter Dashboard. The company said in blog post that the new service is launching into beta in the U.S. and is available online at dashboard.twitter.com or via the Dashboard app in the App Store. Nike Inc. (NKE), the world's largest athletic shoes and apparel maker, Tuesday said its fourth-quarter profit dropped 2 percent from a year ago, hurt largely by lower-than-expected revenues and weak margins. Shares of the company slipped over 6 percent in the after-hours trading. Beaverton, Oregon-based... WalletHub has released a list of the best large U.S. cities to launch new business, and the results will shock you. It seems the Midwest is an entrepreneur's...
comments powered by Disqus
Follow RTT