Healthcare Business Recap: Abbott Laboratories and St Jude Medical Grow
Private equity company Veritas Capital buys Thomson Reuters’s (NYSE:TRI) healthcare unit for $1.25 billion in cash, which will enable the latter to concentrate even more “on our core global businesses.”
Abbott Laboratories (NYSE:ABT) and St Jude Medical (NYSE:STJ) enlarge their 2008 agreement, which allows joint promotion of each other’s cardiovascular products in the United States, and also to provide a full array of related devices. The former will supply heart stents, and the latter will offer systems that correct irregular heartbeats such as pacemakers.
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Shares of Cameron (NYSE:CAM) slump following word from FDA evaluators, that approval for the firm’s defibrillator will be withheld until problems with battery depletion are resolved. In addition, the agency says that the subcutaneous method of the device’s application could lead to infection, and that it works more slowly than similar defibrillators that are placed directly into the heart. Caemron is to be acquired by Boston Scientific (NYSE:BSX) in the near term.
Microcap Dehaier Medical (NASDAQ:DHRM) signs an agreement in which it will be the exclusive dealer of Timesco of London in China, and its shares pop. The deal is for three years, in which DHRM will distribute Timesco’s Optima series of laryngoscopes, which are used for tracheal intubations.
Watson Pharmaceuticals (NYSE:WPI) might announce a $5.6 billion acquisition for Actavis by Wednesday, sources say. Such a deal would greatly benefit Deutsche Bank (NYSE:DB), which was left holding Actavis debt in the billions of euros after the leveraged buyout of 2007.