Company News: Abbott and Solvay Pharmaceuticals

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Abbott completed its $6.2 billion acquisition of Solvay Pharmaceuticals, and said it expects the acquisition to add about $2.9 billion to 2010 sales, mostly outside the US, and around $500 million to the company's annual R&D investment. “In addition to taking both Abbott and Solvay products into new and expanding markets, the acquisition enhances our R&D investment, providing Abbott with the opportunity to drive future pharmaceutical growth,” said Abbott chairman and CEO Miles White in a statement.
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