Abbott honoured for merger and acquisition successes

Abbott has been recognised by an industry publication for the success of its merger and acquisition activities in recent years.

Business and financial magazine The Deal has named Abbott as the Most Admired Dealmaker in the pharmaceutical and biotechnology sector, as well as listing it as one of the overall Most Admired Corporate Dealmakers.

The honours were bestowed upon the company in recognition of its success in expanding its business reach and geographic presence through strategic purchases of new businesses and products in 2010.

These include the buyout of Solvay Pharmaceuticals and Piramal Healthcare Solutions and the acquisition of a new early stage chronic pain treatment, as well as the new research partnerships it agreed with Neurocrine and Pierre Fabre.

Miles White, chairman and chief executive officer of Abbott, said these deals will help the firm "establish a leading presence in emerging markets, enhance its pharmaceutical pipeline and capitalise on global growth opportunities to drive continued top-tier performance".

Last week, Abbott was named in the Dow Jones Sustainability World Index for the sixth consecutive year, recognising the business's continued commitment to environmental practices.