By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Abbott today announced that it will split into two separate, publicly-traded companies — one focused on diversified medical products and the other on research-based pharmaceuticals.

The diversified medical products business, which includes the branded generic pharmaceutical, medical devices, diagnostics (including molecular diagnostics), and nutritional businesses, will retain the Abbott name. These businesses combined bring in annual revenues of roughly $22 billion.

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