By Bruce Japsen | Abbott
Laboratories said this morning it has closed on its $6.2 billion
purchase of Solvay Pharmaceuticals of Belgium, giving the North
Chicago-based drug giant access to a larger cholesterol drug franchise
as well as other medicines.
 
The deal gives Abbott sole control over the cholesterol drug Tricor and
its successor pill TriLipix. That will help add about $2.9 billion to
Abbott’s reported 2010 annual sales.

“The acquisition of Solvay Pharmaceuticals is a key part of Abbott’s strategy to bolster
our presence in key markets and deliver sustainable, industry-leading growth,” said Abbott chairman and chief executive officer Miles White. “In addition to taking both Abbott and Solvay products into new and expanding markets, the acquisition enhances our R&D investment, providing Abbott with the opportunity to drive future pharmaceutical growth.”