Bioscience

Abbott and Isis Announce Hart-Scott-Rodino Clearance of Abbott's Acquisition of Ibis Biosciences, a Subsidiary of Isis

Published in Drug Law Weekly, January 6th, 2009

Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) and Abbott (NYSE:ABT) announced that they have received clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for Abbott's purchase of the remaining equity ownership in Ibis Biosciences, Inc., an Isis subsidiary, which was a key condition to Abbott's acquisition of Ibis.

Last week, Abbott exercised its option to purchase Ibis. The closing of the acquisition is subject to the satisfaction of other terms and conditions of a stock purchase agreement between the parties and is expected to occur in January 2009.

Keywords: Biosciences, Isis Pharmaceuticals Inc., Pharmaceutical Business,...

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Source: Drug Law Weekly (2009-01-06)

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