8-KAcquisitions & DispositionsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Acquisition Completed (Jan 7, 2013)

Filed January 7, 2013For Securities:ABT

Summary

Abbott Laboratories (ABT) announced on January 7, 2013, the completion of a significant corporate event: the spin-off of its research-based pharmaceuticals business into a new, independent, publicly traded company named AbbVie Inc. (ABBV). This distribution occurred on January 1, 2013, with Abbott shareholders receiving one share of AbbVie common stock for each share of Abbott stock they held as of December 12, 2012. This strategic move effectively separates Abbott's diversified medical products businesses (diagnostics, medical devices, nutritionals, and established pharmaceuticals) from the biopharmaceutical development arm that now constitutes AbbVie. Investors should note that Abbott's future financial performance and strategy will now be focused on its remaining business segments, while AbbVie will pursue its own growth trajectory centered on innovative drug development. The filing also includes unaudited pro forma financial information reflecting the impact of this separation.

Key Highlights

  • 1Abbott Laboratories completed the spin-off of its research-based pharmaceuticals business on January 1, 2013.
  • 2The new independent company is named AbbVie Inc. and trades on the NYSE under the ticker symbol ABBV.
  • 3Abbott shareholders received one share of AbbVie common stock for every Abbott common share owned as of the record date (December 12, 2012).
  • 4This separation divides Abbott into two distinct entities: Abbott (focused on diversified medical products) and AbbVie (focused on biopharmaceuticals).
  • 5The filing includes unaudited pro forma consolidated financial information for Abbott, reflecting the impact of the distribution.
  • 6The event signifies a major strategic shift for Abbott, allowing it to concentrate on its core diversified healthcare businesses.

Frequently Asked Questions

The primary purpose of this filing is to report the completion of Abbott Laboratories' spin-off of its research-based pharmaceuticals business into a new, independent company called AbbVie Inc., which became effective on January 1, 2013.

Abbott shareholders received one share of AbbVie Inc. common stock for each share of Abbott Laboratories common stock they owned as of the close of business on December 12, 2012. This means shareholders now hold shares in two separate companies.

After the distribution, Abbott Laboratories continues to operate with its diversified portfolio of medical products, including diagnostics, medical devices, nutritionals, and established pharmaceuticals. The research-based biopharmaceutical business now operates independently as AbbVie Inc.

AbbVie Inc. is now a separate publicly traded company and will file its own financial reports. Investors should refer to AbbVie's filings (starting with the new ticker symbol ABBV on the NYSE) for its financial performance and results.