Abbott to purchase Wockhardt nutrition businesses

Abbott has announced a definitive agreement to purchase the nutrition businesses of Wockhardt, Carol Info Services and a number of their subsidiaries.

In a statement, the organisation explained that the total consideration for the acquisition is approximately $130 million (79.2 million pounds).

Among the products that the firms currently offer are Protinex, Dexolac and Nusobee.

Holger Liepmann, executive vice-president of global nutrition at Abbott, said that the transaction is “an excellent strategic fit” for the company as it looks to increase the growth of its nutrition business.

“Combining these trusted nutrition products, local manufacturing capability and commercial infrastructure with Abbott’s existing paediatric and adult nutrition offerings positions Abbott very well,” he added.

Abbott believes the transaction will be completed in the second half of this year.

Earlier this month, Abbott announced that it is working with GlaxoSmithKline to develop a new automated molecular diagnostic test for the screening of non-small cell lung cancer tumours.