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Thursday, October 16, 2014

Takeover Digest- New York Times business news - Oct 16, (NYSE: ABBV)

The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * The Obama administration may have killed the biggest corporate takeover of the year. AbbVie Inc, the Illinois-based drugmaker that had agreed to pay $54 billion for the Irish pharmaceutical company Shire Plc, now has cold feet. AbbVie's abrupt reconsideration of the deal sent Shire's stock price plummeting on Wednesday and provided the clearest evidence yet that the Treasury Department had succeeded in cracking down on corporate inversions. (* The first two drugs that can slow the progression of a fatal lung disease won approval from the Food and Drug Administration on Wednesday, a decision that could open a new era for patients but also a new chapter in the controversy over high drug prices. Roche Holding AG's drugs Esbriet and Boehringer Ingelheim's Ofev, are meant to treat idiopathic pulmonary fibrosis, a scarring of the lungs that affects roughly 100,000 Americans and kills many of them in three to five years. (

AbbVie Inc. (AbbVie) is a research-based pharmaceuticals company. Shares of ABBV traded higher by 0.92% or $0.5/share to $54.63. In the past year, the shares have traded as low as $45.50 and as high as $60.02. On average, 13893100 shares of ABBV exchange hands on a given day and today's volume is recorded at 122740856.