Abbott Completes Acquisition of Piramal's Healthcare Solutions Business,
Becomes Leading Pharmaceutical Company in India

    
    Deal propels Abbott to top position in India with pharmaceutical sales
    expected to exceed $2.5 billion by 2020




    
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<p>ABBOTT PARK, Ill., <span class="xn-chron">Sept. 8</span> /CNW/ -- Abbott (NYSE: ABT) has completed its acquisition of Piramal's Healthcare Solutions business, propelling it to market leadership in the Indian pharmaceutical market and further accelerating the company's growth in emerging markets.</p>
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<p>Throughout the past decade, Abbott has established a leading presence in emerging markets - today, more than 20 percent of the company's total sales are generated in these growing economies.</p>
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<p>"The acquisition of Piramal's Healthcare Solutions business further strengthens Abbott's growing presence in emerging markets," said Miles D. White, chairman and chief executive officer, Abbott. "Piramal's portfolio of well-known, trusted products has served patients in <span class="xn-location">India</span> for decades. Combined with existing product offerings, Abbott is uniquely positioned to meet the needs of one of the world's fastest-growing pharmaceutical markets."</p>
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<p>India's rapid pharmaceutical market growth is being driven largely by branded generics. The market will generate nearly <span class="xn-money">$8 billion</span> in pharmaceutical sales this year, a number that is expected to more than double by 2015. Abbott expects its pharmaceutical sales in <span class="xn-location">India</span> to exceed <span class="xn-money">$2.5 billion</span> by 2020.</p>
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<p>Piramal's Healthcare Solutions business has a comprehensive portfolio of branded generics, including market-leading brands in multiple therapeutic areas, including antibiotics, respiratory, cardiovascular, pain and neuroscience.</p>
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<p>The Healthcare Solutions business will operate as a separate business unit, reporting into Abbott's newly-created Established Products Division (EPD), which was formed to focus on branded generics, maximizing the opportunity in emerging markets. The business will continue to be led by its current India-based management team.</p>
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<p>"Piramal's proven business model in <span class="xn-location">India</span> and experienced local leadership team, combined with the global resources of Abbott, will allow us to build upon Piramal's commitment to quality and service," said Michael J. Warmuth, senior vice president, Established Products, Pharmaceutical Products Group, Abbott.</p>
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<p>Abbott now employs approximately 10,000 people across all of its businesses in <span class="xn-location">India</span>.</p>
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<p>Abbott, through a wholly-owned subsidiary, purchased the assets of Piramal's Healthcare Solutions business for a <span class="xn-money">$2.2 billion</span> up-front payment with additional payments of <span class="xn-money">$400 million</span> annually for the next four years, beginning in 2011. This transaction will not impact Abbott's ongoing earnings per share guidance in 2010.</p>
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    About Abbott
    
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<p>Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs nearly 90,000 people and markets its products in more than 130 countries.</p>
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<p>Abbott's news releases and other information are available on the company's Web site at <a href="http://www.abbott.com">www.abbott.com</a>.</p>
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    Abbott Forward-Looking Statement
    
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<p>Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A, "Risk Factors," to our Annual Report on Securities and Exchange Commission Form 10-K for the year ended <span class="xn-chron">Dec. 31, 2009</span>, and in Item 1A, "Risk Factors," to our Quarterly Report on Securities and Exchange Commission Form 10-Q for the period ended <span class="xn-chron">March 31, 2010</span>, and are incorporated by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments.</p>
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For further information: Media, Scott Stoffel, [phone], [email protected], or Adelle Infante, [phone], [email protected], or Financial, Larry Peepo, [phone], all of Abbott Web Site: http://www.abbott.com