Abbott to sell its developed markets branded generics pharmaceuticals business to Mylan Abbott announced today that it will sell its developed markets branded generics pharmaceuticals business to Mylan for equity possession of a newly formed entity which will combine Mylan’s existing business and Abbott’s developed markets pharmaceuticals business, and will be a publicly traded firm article . This represents a value of approximately $5.3 billion based on Mylan’s closing stock price on Fri. The developed markets part of this business generated around $2 billion in product sales in 2013.
Seventy-nine patients with energetic Crohn’s disease were signed up for a randomized, double-blind trial of ABT-874 to evaluate safety and efficacy. Participants had active Crohn’s disease as indicated by a Crohn’s Disease Activity Index score between 220 and 450, measured within two weeks of beginning treatment. Results had been measured using the CDAI, which is a weighted composite rating of eight clinical elements, including daily number of liquid or extremely loose stools, severity of abdominal cramping or pain, level of general well-being, presence of extraintestinal manifestations or abdominal mass, usage of anti-diarrheal agents, decrease and hematocrit in ideal body weight. Remission was defined as a CDAI less than or add up to 150 points and clinical response as a reduction in the CDAI score of at least 100 points.