Abbott, the US pharmaceutical company, reinforced the growing trend of consolidation in the global pharma sector with a €4.5bn ($6.5bn) agreed purchase of the drugs arm of Belgium’s Solvay Group on Monday. The deal comes after Johnson & Johnson, the world’s largest health products group, agreed to buy an 18%  stake in Crucell of the Netherlands, and signals the end of independence for one of Belgium’s few remaining pharma companies.

This entry was posted by Gwen Robinson on Tuesday, September 29th, 2009 at 4:49 and is filed under Capital markets, M&A. Tagged with abbott, Solvay. Edit this entry.