Abbott to buy Latin American drugmaker CFR in $2.9 billion deal

[riky]

Abbott to buy Latin American drugmaker CFR in $2.9 billion deal

<p><a href="http://news.yahoo.com/abbott-buy-latin-american-drugmaker-cfr-2-9-034631379--sector.html"><img src="http://l1.yimg.com/bt/api/res/1.2/gjmequvMigfdkUzE3pnnWg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-05-17T034631Z_2_CBREA4F108S00_RTROPTP_2_US-ABBOTT-ACQUISITION.JPG" width="130" height="86" alt="Abbott Laboratories’ global headquarters in Abbott Park, Illinois is seen in an undated handout photo. REUTERS/Handout via Abbott Laboratories" align="left" title="Abbott Laboratories’ global headquarters in Abbott Park, Illinois is seen in an undated handout photo. REUTERS/Handout via Abbott Laboratories" border="0" /></a>Abbott Laboratories said on Friday it would acquire Chile's CFR Pharmaceuticals SA in a $2.9 billion deal that will more than double its branded generic drugs business in the fast-growing Latin American market. This is the first deal for Abbott since it split into two businesses and spun off its blockbuster rheumatoid arthritis drug in a new company, AbbVie Inc , last year and comes at a time when health mergers have surged. &quot;Not all geographies are alike and some are not particular focuses for us,&quot; Chief Executive Officer Miles White said during a conference call with investors. While the Latin American pharmaceuticals market has been attractive to big drugmakers, there are few other big opportunities like CFR because most companies are small, family-owned businesses.</p><br clear="all"/>

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