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Abbott to merge India unit, Solvay Pharma

Abbott India¬† on Wednesday agreed to merge Solvay Pharma¬† into itself, combining two Indian units of U.S.-based Abbott Laboratories’ and sending Abbott India shares to a 52-week high.

Solvay Pharma said its shareholders would get three shares of Abbott India for every two held. Solvay Pharma shares fell more than 13 percent on the news. Get the full story »