Today at 7:20 a.m.
Filed under:
Earnings,
M&A
By Bruce Japsen
Abbott researchers using a robot to test compounds. (Lane Christiansen/Tribune)
Abbott Laboratories’ first-quarter profits dipped 14 percent thanks largely to restructuring costs of its pharmaceutical business that led to a major layoff announcement earlier this year.
The North Chicago-based drug and medical product giant, which in January said it would slash 1,900 jobs, including 1,000 in Illinois, reported $864 million in profits, or 55 cents a share. That compares to earnings of $1 billion, or 64 cents a share in the first quarter of 2010. Get the full story »
April 12 at 12:50 p.m.
Filed under:
Pharmaceuticals
From Bloomberg News | Abbott Laboratories’ Humira spurred resistance in more than a quarter of patients taking the rheumatoid arthritis drug in a study, a finding that may weaken demand for the company’s top-selling medicine. Get the full story>>
April 4 at 10:50 a.m.
Filed under:
Pharmaceuticals,
Updated
By Bruce Japsen
Abbott's MitraClip. (Abbott)
Abbott Laboratories’ experimental device to repair leaky heart valves continues to show promise in patients two years after they have been treated, new research published in the New England Journal of Medicine today shows.
The MitraClip device, which is currently being review by the U.S. Food and Drug Administration for possible approval, is considered an important development for heart patients with mitral regurgitation because serious cases require open-heart surgery to repair their valves. It could be on the U.S. market by the end of this year. Get the full story »
April 4 at 6:48 a.m.
Filed under:
Health care,
Pharmaceuticals
By Reuters
Abbott Laboratories Inc.’s experimental Absorb heart stent, designed to dissolve and thereby restore the blood vessel’s natural flexibility, has proven safe and effective a year after being implanted in patients, researchers said. Get the full story »
March 30 at 4:58 p.m.
Filed under:
Pharmaceuticals
From Bloomberg News | A federal jury has ordered Abbott Laboratories to pay drug giant GlaxoSmithKline $3.5 million in damages in an antitrust lawsuit claiming Abbott sought to stifle competition over HIV drugs when it quadrupled the price of its AIDS medicine Norvir in 2003.
March 30 at 6:44 a.m.
Filed under:
Pharmaceuticals
By Dow Jones Newswires-Wall Street Journal
Abbott Laboratories is betting heart patients will benefit from a new type of arterial stent that dissolves away when it is no longer needed. Get the full story »
By Associated Press
Abbott Laboratories said Tuesday that it received marketing approval for a version of its i-STAT 1 blood testing system that can transmit results wirelessly. Get the full story »
March 25 at 8:39 a.m.
Filed under:
Litigation,
Pharmaceuticals
By Reuters
A jury began deliberating Friday morning on whether Abbott Laboratories should pay GlaxoSmithKline hundreds of millions of dollars over allegations of unfair HIV drug pricing. Get the full story »
March 24 at 1:48 p.m.
Filed under:
Health care,
Litigation,
Pharmaceuticals
By Reuters
Abbott Laboratories improperly hiked the price of one drug to help it preserve sales growth of one of its other HIV blockbusters, an attorney for GlaxoSmithKline told a jury. Get the full story »
March 24 at 1:14 p.m.
Filed under:
Pharmaceuticals
By Reuters
Abbott Laboratories and its top selling rheumatoid arthritis drug Humira are strong enough to withstand looming competition from a new pill developed by Pfizer Inc., analysts say, despite investor fears that have hobbled Abbott’s shares. Get the full story »
March 23 at 5:55 p.m.
Filed under:
Pharmaceuticals
By Reuters
Abbott Laboratories has agreed to settle a lawsuit brought by CVS Caremark Corp., Rite Aid Corp. and other retailers who accused it of unfairly boosting the price of HIV drugs, a company spokeswoman said. Get the full story »
March 15 at 4:30 p.m.
Filed under:
Chicago executives,
Pharmaceuticals
By Bruce Japsen
Abbott Laboratories Chairman and Chief Executive Miles White received a 2 percent raise last year, to $1.89 million, though his bonus and other stock awards dipped amid a turbulent year for the North Chicago-based drug and medical product giant.
Abbott, which failed to win Food and Drug Administration approval for certain prescription drugs, valued White’s total compensation package at nearly $25.6 million in 2010, down from $26.2 million in 2009, according to the company’s annual proxy statement filed Tuesday afternoon with the Securities and Exchange Commission.. The total includes stock awards, bonus, salary and other compensation. Get the full story »
March 15 at 10:07 a.m.
Filed under:
Chicago executives,
Management
By Tribune staff report
The National Association for Female Executives named seven Illinois companies among its Top 50 companies for executive women.
Abbott of North Chicago and Kraft of Northfield were among the Top 10. Five others made the Top 50: Allstate Insurance of Northbrook; HSBC North America of Mettawa; McDonald’s Corp. of Oak Brook; Northern Trust of Chicago; and State Farm Insurance of Bloomington. Get the full story »
March 8 at 11:46 a.m.
Filed under:
Pharmaceuticals
By Reuters
U.S. health officials cautioned against the use of Abbott Laboratories’ HIV drug Kaletra in premature babies because they could be at greater risk for serious and possibly fatal side effects.
In a warning issued on Tuesday, the Food and Drug Administration said oral solutions of the drug given to premature babies could raise the risk of serious heart, kidney, or breathing trouble. Get the full story »
March 3 at 6:50 a.m.
Filed under:
Health care
By Associated Press
A new federal report shows employers in Illinois received nearly $41 million last year to help them maintain health care coverage for early retirees. The federal funding comes from a program created by the Affordable Care Act, the national health care law. In Illinois, 337 employers have been accepted into the early retiree program. Get the full story »
