Is this move smarter than it seems?
Solvay's flu vaccine business, on the other hand, Abbott can live without. The Wall Street Journal reports that the company has put its newly acquired flu business up for auction. The unit could fetch over $600 million.
I liked the original purchase by Abbott because it decreased the company's reliance on its anti-inflammatory drug Humira, which has gotten a little out of control, making up 18% of total revenue last quarter. Selling off part of the acquisition, however, kind of goes back to that model.
Investors can only hope that this is a case of Abbott believing that it has better use for its capital. GlaxoSmithKline
Abbott acquired a few cancer drugs when it purchased Facet Biotech. A further push in that direction wouldn't be such a bad move. There aren't too many unpartnered cancer drugs out there, but Facet was partnered with Biogen Idec
Just like Gilead Sciences
Make your sale and future purchases wisely, Abbott; your investors are watching.
Novartis is a Motley Fool Global Gains selection. Investing internationally doesn't have to be scary and it can certainly be profitable. Click here to grab a 30-day trial subscription to the newsletter where you'll see all of our current picks for a global economy.
More from The Motley Fool
This News Explains Why DexCom Is Dropping Today
Shares slide after news breaks that a competitor's product nabs an important reimbursement win.
3 Top Diabetes Stocks to Buy Now
The diabetes market is growing. And these stocks are poised to grow with it.
Abbott Laboratories Q3 2017 Earnings Conference Call Transcript (ABT)
ABT earnings call for the period ending September 30, 2017