Abbott Laboratories

Abbott agrees to acquire Latin America’s CFR Pharmaceuticals for $2.9bn

American pharmaceuticals & health care products firm Abbott Laboratories on Friday confirmed that it would acquire Chile-based CFR Pharmaceuticals SA in a $2.9 billion (£1.72 billion) deal.

Abbott will acquire nearly 73 per cent of CFR's publicly traded shares from founder Weinstein family-led holding company, while a tender offer will be issued for buying the remaining shares.

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Abbott Withdraws Reductil (Sibutramine) from the Market

The drug-making Company, Abbott has decided to withdraw the weight-loss drug Reductil (sibutramine) from the market.

The decision to recall the drug from the market was decided after going through the results for the sibutramine cardiovascular outcomes trial (SCOUT) study.

As per the study results, the drug was found to increase the risk of heart attack and stroke.

A spokeswoman for Abbott said that the Company believed that Reductil drug was beneficial for overweight and obese patients, who didn’t suffer from cardiovascular disease.

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Abbott Recalls 5 million Containers of Infant Formula

The recall of infant formulas by Abbott has been posted by FDA on its website. It is reported that around 5 million containers of the corporation's Similac, brand powdered infant formulas, together with Isomil and Go& Grow will be affected by the recall.

The recall for a large number of infant formulas was issued last week by Abbott, due to probable infectivity of insect parts like beetles and their larvae.

According to the Food and Drug Administration, the pollutant might not cause any harm to babies, however, parents should remain careful and alert.

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Tampa Bay parents worry about recalled Similac baby formula

The recent advancement in case of Similac baby formula has urged parents to check if their children haven’t consumed any of the adulterated products.

Reports from Abbott Laboratories Inc., a Chicago-area firm pronounced on Wednesday of calling back 5 million units of the most asked for powdered baby food soon after insects and their larvae were found in the unit.

The U.S. Food and Drug Administration (FDA) has stated that no immediate health risks whatsoever is attached with the product, but infants might suffer gastrointestinal discomfort.

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Top-selling Similac Powdered Infant Formula Recalled

The top-selling Similac powdered infant formula commonly sold in cans and plastic containers is being recalled, for there is a fear of contamination by beetles or larvae of the bugs.

Approximately 5 million containers are being recalled by the Illinois-based Abbott Laboratories and the products that are sold in liquid form are not part of the recall.

"We know that parents place a lot of trust in our Similac brands and delivering anything less than the highest quality infant formula to them is unacceptable to us", said Abbott Spokeswoman Melissa Brotz.

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