Abbott Labs plans cost-cutting, 3,000 job losses as a result of Solvay integration
US health care giant Abbott Laboratories (NYSE: ABT) has announced a restructuring plan related to its $7.1 billion acquisition of Belgium firm Solvay’s pharmaceuticals business last year (The Pharma Letter September 28, 2009), following a thorough assessment of Solvay’s R&D portfolio, manufacturing operations, global support functions, and commercial organizations in line with Abbott’s global pharmaceutical strategy.
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