IHS Chemical Week

EnviroTech :: Biotech

Abbott Completes Acquisition of Facet Biotech

10:18 PM MDT | April 21, 2010 | Deepti Ramesh

Abbott Laboratories (Abbott Park, IL) says it has completed the previously announced acquisition of biotechnology company Facet Biotech (Redwood City, CA), for a total transaction value of about $450 million. The acquisition provides Abbott with a promising biologic intended to treat multiple sclerosis and compounds that complement its existing diverse oncology program. “Facet's depth of biologics experience and sophisticated antibody engineering platforms complement Abbott's current R&D programs in oncology, immunology and other therapeutic...

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