Abbott shopping around for pharma growth, analysts sayBy: Mike...

Abbott shopping around for pharma growth, analysts say
By: Mike Colias Sept. 18, 2009

(Crain’s) — Abbott Laboratories is likely seeking an acquisition to bolster its pharmaceutical business, according to an analyst report out Friday.

The North Chicago-based drug and medical device giant is seeking to boost longer-term drug revenue in the face of slowing growth for its top-selling anti-inflammatory medication, Humira, analysts for investment bank Credit Suisse Group wrote.

Companies that make drugs to treat cancer, diseases that affect the central nervous system or infectious diseases like HIV could be on Abbott’s short list, the analysts said.