AbbVie Issues Record Debt To Support Independence
This article was originally published in The Pink Sheet Daily
Executive Summary
The future Abbott spin-off tapped the bond market for financing just days after Hurricane Sandy brought trading to a halt and hours before the U.S. faced a leadership decision.
You may also be interested in...
Pharma Responds To Sandy’s Wrath With Delays
As the East Coast braces for the impact of Hurricane Sandy, companies choose the safety of their employees over keeping financial releases on schedule.
As AbbVie Prepares To Launch, Some Wind Gets Knocked Out Of Its Sails
Abbott’s proprietary pharmaceutical business will officially begin business as a separate entity called AbbVie Jan. 1, but a key pipeline opportunity – bardoxolone – is in doubt after a Phase III trial was terminated due to safety.
Abbvie: A Glimpse Of What The New Biopharma Will Look Like
The proprietary pharmaceuticals business – slated to break off from Abbott on Jan. 1, 2013 – will generate sales of around $18 billion, have a cash balance of $7 billion and an annual R&D spend of around 14% of sales, about $2.52 billion in 2013.