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Abbott Labs/ALZA acquisition

This article was originally published in The Tan Sheet

Executive Summary

Abbott is purchasing ALZA Corp. in a stock-for-stock merger transaction valued at $7.3 bil., the companies announce June 21. Palo Alto, Calif.-based ALZA specializes in developing drug delivery systems including the technology for the Nicoderm CQ transdermal patch, licensed by SmithKline Beecham, and a 24-hour time release osmotic technology used in various OTC cough/cold remedies. Abbott intends to account for the transaction as a pooling of interests. The deal is expected to be completed by year-end
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