Abbott Plans to Spin Off Nutrition Business by End of 2027
Abbott plans to separate its global Nutrition business, with approximately $8.5 billion in sales, into an independent public company through a share distribution to Abbott shareholders. The plan is subject to approvals.
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11:41:23 AM UTC
SquawkNews
Abbott Laboratories NYSE:ABT said it plans to separate its nutrition business into an independent, publicly traded company, as the medtech giant looks to focus on its diagnostics and medical device businesses."This separation will benefit both companies, setting each one up for maximum success in i…
11:42:19 AM UTC
SquawkNews
Abbott intends to separate its global Nutrition business into an independent, publicly traded company by the end of 2027, the company said. The move is structured as a tax-free distribution to shareholders, who will own stock in both entities after completion. Abbott said the separation allows each…
11:43:31 AM UTC
SquawkNews
After the Nutrition spinoff, Abbott will have about $42 billion in sales and 106,000 employees, the company said. The remaining business holds market-leading positions in cardiovascular and neuromodulation devices, biowearables, and laboratory, point-of-care and cancer diagnostics. Chairman and CEO…
11:43:31 AM UTC
SquawkNews
The spinoff creates a standalone healthy nutrition company with about $8.5 billion in annual sales, 16,000 employees and 14 manufacturing sites. Its brand portfolio includes Ensure, the world's top adult nutrition supplement; PediaSure, the leading pediatric nutrition supplement; Glucerna, the top…
Abbott plans to separate its global Nutrition business (~$8.5B sales) into an independent public company via a share distribution to Abbott shareholders, targeted by end of 2027, subject to approvals.Material DetailsContext by AI AnalystThis is a strategic portfolio separation aimed at sharpening g…