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ARTICLE | Company News

Abbott to acquire Chile's CFR

May 17, 2014 12:18 AM UTC

Abbott Laboratories (NYSE:ABT) will acquire specialty generics company CFR Pharmaceuticals S.A. (Santiago, Chile) for $2.9 billion in cash. Abbott also will assume about $430 million in CFR's net debt. Abbott said the deal will expand its Latin American presence and its branded generics portfolio. CFR had 2013 revenues of $767.9 million. The deal is expected to close next quarter. Barclays advised Abbott, and Deutsche Bank advised CFR. ...