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Tuesday, February 12, 2013

GSK, others weigh $3-4 billion deal for Brazilian drugmaker -sources, (NYSE: ABT)

Britain's GlaxoSmithKline is one of several groups exploring a potential takeover of Ache Laboratorios Farmaceuticos, one of Brazil's biggest drugmakers, people familiar with the matter said.The privately owned business is attractive to a number of drug companies looking to increase their footprint in Latin America and could fetch $3-4 billion, or even more if competition is keen, they added."It's something Glaxo has looked at in the past and they've been knocking on the door," said one source.Other drugmakers likely to be interested include Novartis , Pfizer and Abbott Laboratories, other sources said.

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture, and sale of a range of health care products. Shares of ABT traded higher by 0.44% or $0.15/share to $34.41. In the past year, the shares have traded as low as $26.20 and as high as $34.69. On average, 14395500 shares of ABT exchange hands on a given day and today's volume is recorded at 2325687.