Medical M&A Rules The Day As Abbott, AbbVie Make Buys, Sanofi Bids

Big money was moving in the medical field Thursday as three giant companies announced — or attempted — multibillion-dollar buyouts.

Abbott Laboratories (ABT) announced an agreement to acquire fellow cardiac-device maker St. Jude Medical (STJ) in a deal worth $25 billion. Meanwhile, AbbVie (ABBV), which used to be Abbott’s biopharma division before it was spun out, agreed to buy biotech Stemcentrx, for $5.8 billion upfront and up to $4 billion in milestone payments.

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