Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Abbott To Buy AP214 From Action Pharma - Quick Facts

Abbott (ABT: Quote) 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.

Click here to receive FREE breaking news email alerts for Abbott Laboratories and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Colorado based doctor Dilip Joseph, who was kidnapped by the Taliban discusses his ordeal in detail in a book published by Amazon on Tuesday. Extending the rebound seen over the course of the previous session, stocks moved sharply higher during trading on Friday. The gains on the day partly offset the recent sell-off on Wall Street, although the major averages remain well off their mid-September highs. While the Ebola outbreak in the U.S. has thus far been limited to just three people, the results of a new CBS News poll suggest that news of the disease has contributed to a sharp drop in public confidence in the Centers for Disease Control and Prevention.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.