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Abbott sales, profit propped up by St. Jude acquisition

April 19, 2017 (Reuters) – Diversified healthcare company Abbott Laboratories reported higher-than-expected quarterly sales and profit on Wednesday, driven by its $25 billion acquisition of St. Jude Medical. Shares of Abbott, which also maintained its 2017 forecast, were up 1.2 percent at $43.99 in premarket trading. Net sales of the company, which consummated its acquisition of St. Jude Medical in January, rose 3.2 percent on an operational basis to $6.34 billion, ahead of the average analyst estimate of $6.15 billion, according to Thomson Reuters I/B/E/S. While sales in its diagnostics,…

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Abbott agrees to buy Alere at lower price from earlier offer

April 14, 2017 (Reuters) – Diversified healthcare company Abbott Laboratories on Friday agreed to buy Alere Inc at a lower price than it had previously offered, after raising concerns about the accuracy of various representations, warranties and covenants made by Alere in the earlier agreement. Abbott’s revised offer values Alere’s equity around $5.3 billion, down from the about $5.8 billion announced in February last year, the companies said in a statement, ending a prolonged legal battle over Abbott’s plan to acquire the diagnostic-testing company. Abbott will now pay $51 per…

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