Alere sues Abbott Laboratories over $5.8B pending acquisition

Waltham, Mass.-based Alere, a medical diagnostics products company, has sued Chicago-based Abbott Laboratories to force the company to complete its $5.8 billion acquisition of Alere, according to The Boston Globe.

Alere executives filed a complaint in Delaware Chancery Court Aug. 26 alleging Abbott failed to obtain the necessary U.S. antitrust approvals for the merger.

In March, Alere disclosed the Justice Department had subpoenaed documents from the company to investigate Alere's overseas business practices.

Alere has since disclosed a separate U.S. investigation into billing practices at a Texas-based laboratory., according to the article.

Despite Alere's legal troubles, Abbott said in a statement that the company remains committed to the acquisition.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars