solvay

Giant U.S. pharmaceutical group Abbott Laboratories is cutting 3,000 jobs, or about 3% of its workforce, following its purchase of Belgian-based Solvay's drugs business.

The Feds -- and consumers -- may finally have had it with 'pay-for-delay.' In these deals, generic drug companies that challenge a patent held by a name-brand pharmaceuticals agree to settle by delaying their entry into the market in return for a payment. But regulators are now calling for laws to end the practice.

Some of the companies making headlines today: Abbott Laboratories (ABT) said Monday it has agreed to buy Solvay Group's drug business for 4.5 billion euros ($6.6 billion) in an all-cash deal. The deal gives Illinois-based Abbott full control of Solvay Pharmaceutical's cholesterol treatments and...

As the global financial markets stabilize, the world economy starts recovering and stock markets rally, the pharmaceutical sector, too, is heating up with almost daily deal action. On Wednesday, The Wall Street Journal reported Abbott Laboratories (ABT) has joined the bidding for the pharmaceutical...