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Alere Hit With Another Federal Subpoena, Casting More Doubt On Abbott Deal

 
• By Reed Miller

The company says the matters under investigation are immaterial, but the stock market disagrees, taking about a billion dollars from embattled diagnostics company in under a half-hour.

Alere Inc. announced late on July 27 that it received a subpoena from the US Justice Department for records related to Federal health-care program billings as far back as 2010.

The announcement is the latest in a string of difficulties that may jeopardize Abbott Laboratories Inc.’s planned $5.8bn acquisition of the diagnostics company. (Also see "Look Over Your...

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