Kos, Abbott deal

ABT announced plans to acquire KOSP for $78 per share, or about $3.7 billion in cash. The takeout price is a 56% premium to KOSP's close of $50.09 on Nov. 3, the last trading day before the deal was announced. ABT said the acquisition would expand its presence in the lipid management market.

KOSP's marketed products include cholesterol drugs Niaspan extended-release niacin and Advicor extended-release niacin/lovastatin; hypertension drugs Teveten eprosartan, Teveten HCT and Cardizem LA diltiazem; and Azmacort triamcinolone for asthma. KOSP's pipeline includes compounds for cardiovascular disease, diabetes, liver cirrhosis and asthma. At June 30, KOSP had six-month sales of $394.5 million. ...