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Abbott, AbbVie acquisitions occur amid downturn in deals after record 2015

Abbott, AbbVie acquisitions occur amid downturn in deals after record 2015

Two Chicago-area health care companies announced acquisitions totaling more than $30 billion Thursday, but the pace of dealmaking nationwide continues to lag the flurry that occurred last year.

Mergers and acquisitions nationwide have totaled $358 billion year to date, according to Dealogic. That includes the newly struck $25 billion planned purchase of St. Jude Medical by Abbott and the $5.8 billion acquisition of a South San Francisco, Calif.-based cancer drug firm by AbbVie.

At this point last year, $487 billion in mergers and acquisitions had been announced, Dealogic spokesman Edward Jones said.

The slower pace in transactions is...

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