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Abbott

The firm's confirmation that it is on track with current and Q3 financial report timing may not be enough to appease would-be acquirer Abbott. 

Alere filed a legal complaint in order to push Abbott to obtain the anti-trust approvals needed to complete the acquisition proposed earlier this year.

Although the financial filing sheds increased light on Alere's business, the company is asking for an extension to file its second quarter financial statements.

While Abbott continues to express concerns about the pending acquisition, Alere has remained resolute in its response.   

The firm also reported that it has corrected immaterial errors in previous financial statements.

The company said in December that it had identified a new pegivirus, and is now using that work to redesign an assay that could show how the virus acts in humans.

A month after Brexit fears pushed the GenomeWeb Index down half a percent, companies rallied on news of an acquisition and better than expected Q2 performances.

Abbott's MDx sales were driven by continued strong growth in its infectious disease testing business but were partly offset by the planned scale down of its genetics business.

The release clarifies issues related to the timing of revenue recognition for transactions outside the US.

The first six months of the year have already seen some major deals announced, including big acquisitions by Abbott and Thermo Fisher Scientific.

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