Abbott Plans to Separate Nutrition Business Into Independent Company
Abbott plans to separate its nutrition business into an independent company with about $8.5 billion in annual sales.
Abbott Laboratories intends to spin off its nutrition business as a standalone company, which generates about $8.5 billion in annual sales. The stock fell 3.9% to $98.44 in premarket trading. Abbott has faced years of litigation over its management of a baby-formula facility where de…