Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, February 14, 2013

TAKEOVERCHATTER-Drugmakers weigh carve-outs as Abbott, Pfizer set pace, (NYSE: ABT)

Breaking up is getting easier for pharmaceutical companies.Recent restructurings by Pfizer and Abbott Laboratories have set the pace for others as investors applaud the unlocking of value trapped inside large drugmakers.The success of deals such as Abbott splitting off its innovative drugs into AbbVie and Pfizer's spin-out of animal health into Zoetis has increased the pressure on other boards to consider smarter corporate structures."We will see more," said Jeff Greene, head of life sciences transactions at Ernst & Young. "It doesn't mean we are not going to see a lot of merger and acquisition activity as well, but there is going to be a focus on rationalising portfolios."

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture, and sale of a range of health care products. Shares of ABT remained unchanged at $34.46. In the past year, the shares have traded as low as $26.46 and as high as $34.69. On average, 14197000 shares of ABT exchange hands on a given day and today's volume is recorded at 0.