U.S. healthcare firm Abbott Laboratories is to purchase Russian drugmaker Veropharm for up to $495 million, giving it a manufacturing presence in a country where it has been operating for nearly 40 years, Abbott said on Tuesday.The deal bucks a drought in Russian M&A activity this year due to the country's faltering economy and the Ukraine crisis. U.S. companies have been particularly stymied from investing here with Washington advising top executives to steer clear of a major Russian investment forum in May.Abbott's purchase is the largest acquisition by a U.S. company in Russia since Philip Morris International Inc and Japan Tobacco Inc in December announced plans to buy stakes in cigarette distributor Megapolis for $750 million each, according to Thomson Reuters data.Shares in Veropharm, one of Russia's biggest drugmakers with a market capitalisation of $300 million, shot up 34 percent to a three-year high by early afternoon trading in Moscow.
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products. Shares of ABT fell by 0.29% or $-0.12/share to $40.73. In the past year, the shares have traded as low as $32.70 and as high as $41.30. On average, 6290830 shares of ABT exchange hands on a given day and today's volume is recorded at 4922713.
Philip Morris International Inc. (PMI) is a holding company. Shares of PM fell by 0.78% or $-0.71/share to $89.49. In the past year, the shares have traded as low as $75.28 and as high as $91.81. On average, 4392340 shares of PM exchange hands on a given day and today's volume is recorded at 5493846.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.08% or $0.03/share to $36.07. In the past year, the shares have traded as low as $31.38 and as high as $38.73. On average, 794916 shares of TRI exchange hands on a given day and today's volume is recorded at 709742.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.05% or $-0.02/share to $38.68. In the past year, the shares have traded as low as $33.20 and as high as $42.10. On average, 666223 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 347072.
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