The Wall Street Journal is reporting that Abbott Laboratories will acquire Solvay’s pharmaceutical unit for $7 billion (about Euro 4.8 billion). Abbott and Solvay have already been in partnerships together for several drugs, including Tricor and Trilipix.
Abbott has relied on Humira to pull it through in recent years. Humira now faces yet another major competitor in the form of J&J’s new Stelara, which was approved by the FDA on Friday.
Complete details of the deal should be announced on Monday.
