logo
Share SHARE
FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Casino operator Wynn Resorts said its shareholders ousted Elaine Wynn from the board, reflecting fears that her presence may lead to disharmony with the management. To commemorate the launch of Hubble telescope twenty-five year ago, NASA unveiled celestial fireworks as official image, marked by brilliant tapestry of young stars flaring to life. Abercrombie & Fitch said it would stop hiring store employees based on their body type or physical attractiveness, and that its events, including store openings, will no longer have the presence of shirtless models.
comments powered by Disqus
Follow RTT