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 »
Friday at 1:33 p.m.
Filed under:
Pharmaceuticals
By Reuters
Pfizer Inc. said on Friday its experimental rheumatoid arthritis drug met most of the main goals of a late-stage clinical trial.
If approved, it would compete with injectable treatments such as Humira, made by Abbott Laboratories, Amgen Inc.’s Enbrel, and Remicade, made by Johnson & Johnson. 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>>
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 »
Feb. 23 at 1:04 p.m.
Filed under:
Litigation,
Pharmaceuticals
By Bruce Japsen
Abbott's Humira drug. (Handout)
Turning back a threat to sales of Abbott Laboratories’ most lucrative drug, a federal appeals court Wednesday overturned a lower court ruling that claimed the North Chicago drug giant used Johnson & Johnson’s technology to make a blockbuster rheumatoid arthritis drug.
Humira is Abbott’s largest-selling product and one of the world’s top-selling drugs, generating more than $5 billion in annual sales as a treatment for rheumatoid arthritis, Crohn’s disease and psoriasis among other autoimmune disorders.
The ruling in the U.S. Court of Appeals for the Eastern District of Texas overturned a $1.67 billion verdict against Abbott from Marshall County. At the time of the lower court ruling last year, observers said it was known for being friendly to plaintiffs. Get the full story »
Jan. 26 at 9:51 a.m.
Filed under:
Earnings,
Pharmaceuticals
By Bruce Japsen
Abbott Laboratories said Wednesday that it would cut 1,900 jobs, or 6 percent, of its U.S. workforce in the wake of a series of disappointments in its drug development pipeline, triggering a restructuring of pharmaceutical commercial and manufacturing operations.
Of the cuts, about 1,000 would be in manufacturing operations in Illinois where the largest concentration of Abbott’s estimated 90,000 employees around the world are at its sprawling headquarters in the northern Lake County suburbs of Chicago. The company said about half of the job cuts would take place now with the remainder over the next several years. Get the full story »
