Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Abbott To Buy AP214 From Action Pharma - Quick Facts

RELATED NEWS
Trade ABT now with 

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

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
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.