Abbott Laboratories

Shares of Alere Inc Plunge on U.S. Criminal Probe but Bounce Back Again

Shares of Alere Inc Plunge on U.S. Criminal Probe but Bounce Back Again

Reports surfaced on Wednesday that Federal investigators are seeking information from Alere Inc regarding the company's government billing practices. It comes at a time when the Waltham, Massachusetts based diagnostic-testing company as trying to complete a deal of selling itself to Abbott Laboratories.

Reports citing sources said that the Justice Department's criminal-fraud section has sent a subpoena to Alere asking for patient-billing records.

Panel Gives Lukewarm Response for Abbott's MitraClip

Abbott-MitraClipThere have been reports of a lukewarm response from the FDA’s Circulatory System Devices advisory panel regarding the endorsement of Abbott Laboratories’ MitraClip device.

Lupin Launches Generic Version of Abott’s TriCor

Lupin Launches Generic Version of Abott’s TriCorIndia's drug maker company has come up with generic version of anti-cholesterol drug Tricor that is marketed by Abott.

Update on infant formula recall

Update on infant formula recallRecall of infant formulas by Abbott saying on its website that the recall affects about 5 million containers has been updated by the Food and Drug Administration. The containers are of Similac - brand powdered infant formulas including Isomil and Go& Grow.

The recall was ordered last week by Abbott following a possibility of infant formulas containing insect pieces, their larvae and beetle.

Abbott Planning to Acquire Piramal’s India Unit

abbott-laboratoriesAbbott Laboratories has settled to purchase the domestic healthcare production of India's Piramal Healthcare Ltd., which is a leading generics corporation, for $3.72 billion, the companies stated on Friday.

The contract reflects the mounting international significance of generics as well as the increase of India's customer market for drugs.

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