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Abbott buys Chile's CFR Pharmaceuticals in $2.9bn deal

 
• By Eleanor Malone

Abbott Laboratories has agreed to acquire the Chilean branded generics company CFR Pharmaceuticals for around $2.9bn. CFR's share price shot up 46% to CLP181.50 ($0.33) on the Santiago stock exchange in reaction to the news, which comes three months after CFR's own $1.3bn bid to buy the South African firm Adcock Ingram fell through in the face of local and shareholder opposition.

Abbott Laboratories has agreed to acquire the Chilean branded generics company CFR Pharmaceuticals for around $2.9bn. CFR's share price shot up 46% to CLP181.50 ($0.33) on the Santiago stock exchange in reaction to the news, which comes three months after CFR's own $1.3bn bid to buy the South African firm Adcock Ingram fell through in the face of local and shareholder opposition.

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