Deals Worth $1.75 Billion Offer Insight into Abbott Laboratories (ABT)'s Spinoff Strategy
3/19/2012 8:48:21 AM
Recent acquisitions underscore the Abbott's determination to augment the new firm's drug pipeline ahead of the spin, even if it comes at a hefty price with little guarantee the investments will pay off. Before Abbott Laboratories officially lops off its legacy pharmaceutical business into a separate publicly traded enterprise, it's making an effort to restock the shelves to strengthen the spinoff company's prospects. Since the North Chicago-based medical products giant announced the split in October, it has agreed to spend up to $1.75 billion in two high-profile licensing deals that will give the new firm access to a host of promising drugs.