Miles D. White

Abbott pursuing regulatory approvals for Alere deal, CEO says

Abbott pursuing regulatory approvals for Alere deal, CEO says

Abbott Laboratories is pursuing the necessary regulatory approvals to acquire health care diagnostics company Alere despite months of turbulence over the deal, Abbott Chairman and CEO Miles White said Wednesday.

In an earnings call with analysts, White had some guarded but positive words about the deal that only months earlier, according to Alere, the company tried to scuttle.

In a regulatory filing in late April, Alere said Abbott offered to pay up to $50 million to get out of its $5.8 billion deal with the Massachusetts-based company after Alere disclosed a U.S. investigation into its sale practices in Africa, Asia and Latin America. The Justice Department also sent Alere...

41°