Abbott to Split into Two Pharma Businesses
Abbott plans to separate into two companies, one in diversified medical products and the other in research-based pharmaceuticals.
US-based health care company Abbott Laboratories announced Wednesday its plans to separate into two companies. According to the company's announcement, one of the new companies will cover "diversified medical products" and the other will handle "research-based pharmaceuticals." The plan is not expected to be completed until the end of 2012.
The former group will retain the Abbott name and include the branded generic pharmaceutical, devices, diagnostic and nutritional businesses, while the latter will include Abbott's proprietary pharma and biopharma portfolio. Its name has not been announced.
"Today's news is a significant event for Abbott, and reflects another dynamic change in our company's 123-year history, strengthening our outlook for strong and sustainable
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