Abbott's Generic Drug Business Gets A Boost With Veropharm Acquisition

The deal makes sense in light of Abbott?s recent efforts to expand its generic drug business in high-growth emerging markets such as China, India, Latin America and Russia because of sustained sluggishness in developed markets. Per the terms of the deal, Abbott acquired limited liability company Garden Hills, which currently owns 98% of Veropharm. Abbott also assumed Veropharm?s net debt of 4.7 billion rubles ($136 million) as part of the deal. Veropharm is expected to contribute about $150 mill...