Few health-care companies reach as widely as Abbott Labs (NYSE: ABT ) . This tried-and-true diversified giant operates across markets such as nutrition, diagnostics, and medical devices, and it's long been a favorite for investors in the long term. However, Abbott's recently stumbled in its generic-drug-making business: The company saw sales from this unit fall 6.6% in its most recent quarter.
Abbott's not a company to let problems stick around for long, however, and the firm's moved fast to shore up its generics unit by joining the big pharma buyout party that's rolled along in 2014. The company announced recently that it will buy Chilean drugmaker CFR Pharmaceuticals in a nearly $3 billion acquisition, a move that could also inject Abbott with a much-needed dose of emerging market growth.
Can CFR and the growing South American pharmaceutical market make up for Abbott's generic sales drop? Find out the latest about this health-care giant in the following video, as Motley Fool contributor Dan Carroll takes you through the CFR acquisition-and what the next step for Abbott Labs could be.
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