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Abbott Laboratories (ABT) Taps Morgan Stanley (MST) To Help Sell Established Drugs


5/5/2014 8:13:03 AM

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Abbott Laboratories (ABT.N) is considering selling a big chunk of its mature drugs, joining a list of large drugmakers seeking to sell their older products in an effort to focus on high-growth areas, people familiar with the matter said. Abbott's portfolio of mature drugs being reviewed for sale has around $2 billion in annual revenue and could fetch more than $5 billion, the people said. The U.S. drugmaker is working with Morgan Stanley (MS.N) to find a buyer for the off-patent, or established products, the people added, asking not to be identified because the matter is confidential.

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