5 billion acquisition of Belgium-based Solvay Pharmaceuticals.

Abbott’s news releases and other info can be found on the company’s Site at.. Abbott Completes Acquisition of Solvay Pharmaceuticals Abbott today announced that it has completed its EUR 4.5 billion acquisition of Belgium-based Solvay Pharmaceuticals, providing Abbott with a large and complementary portfolio of pharmaceutical items and expanding Abbott’s presence in important global emerging markets. Based on the timing of the close, Abbott expects the acquisition to add approximately $2.9 billion to Abbott’s 2010 total reported sales, the majority outside the U.S., and add around $500 million to Abbott’s annual pharmaceutical R&D purchase. ‘The acquisition of Solvay Pharmaceuticals is normally a key part of Abbott’s technique to bolster our existence in key marketplaces and deliver sustainable, industry-leading growth,’ said Kilometers D.This strategic action will advance Abbott in to the leading market position in India, one of the world’s most appealing and rapidly growing markets, stated Miles D. White, chairman and chief executive officer, Abbott. Our strong position in top quality generics and growing existence in emerging marketplaces is component of our ongoing diversified pharmaceutical technique, complementing our market-leading proprietary pharmaceutical pipeline and offerings in developed markets. Today, emerging markets represent a lot more than 20 % of Abbott’s total business, stated Mr. White. With this deal, the combined Healthcare Solutions and Abbott businesses will become the clear market head in India, with a market share of around 7 %, stated Ajay Piramal, chairman, Piramal Group.