Alere | GenomeWeb

Alere

Mergers and acquisitions in the omics space rose for the second year in a row, but the increase was significantly less than the 33 percent uptick in 2015 deals.

Alere said its would-be acquirer has no grounds for seeking termination, but Abbott cited adverse material events as a basis for ending the deal.

The GenomeWeb Index, which fell nearly 9 percent in October, rebounded to a 1 percent gain in November, but still underperformed the Dow and Nasdaq.

Abbott said that a lawsuit it filed Thursday tries to obtain important information from Alere before its acquisition is completed.

The GenomeWeb Index fell nearly 9 percent in October, doubling back on September's 5 percent gain and underperforming the Dow and the Nasdaq.

Shareholder approval follows China's avowal that it will not block the deal and Abbott's CEO confirming his faith in Alere's business. 

CEO Miles White said that he still believes that Alere is a good strategic fit for Abbott, and the firm is pursuing all of the necessary regulatory approvals for the deal. 

The court order provided a schedule of actions designed to resolve antitrust issues related to the deal.

The companies appear poised to return to court to settle Alere's claim that Abbott needs to quickly fulfill its obligations under their merger deal.

The Alere flu test detected fewer cases of influenza A in a recent study, which researchers attributed to low viral loads.

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