Abbott Laboratories Acquires Facet Biotech for $450,000,000

  • Feed Type
  • Date
    3/10/2010
  • Company Name
    Facet Biotech
  • Mailing Address
    1500 Seaport Blvd Redwood City, CA 94063
  • Company Description
    With several products currently in the clinic and a compelling long-term vision for our future, Facet Biotech is a small but sophisticated biotechnology company. Combining our expertise in antibody engineering with a disciplined, biology-driven research approach, our company is dedicated to advancing our current pipeline of four clinical-stage products and leveraging our research and development capabilities to identify and develop new drugs. We are passionate and committed about the work that we do, and we share a common goal of developing therapeutics that will improve people’s lives.
  • Website
    http://www.facetbiotech.com
  • Transaction Type
    M&A
  • Transaction Amount
    $450,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    Abbott Laboratories is acquiring Facet biotech in a deal worth $450M. According to Abbott, it will pay $27 per share in cash for Facet, for a purchase price of approximately $722M less Facet’s cash and marketable securities worth $272M.

Trending on Xconomy