Abbott Laboratories' GAAP Results Affected by Exact Sciences Acquisition
What happened
The acquisition of Exact Sciences by Abbott Laboratories is weighing on Abbott Laboratories' GAAP results. Second-quarter GAAP EPS fell to $0.53 from $1.01, and interest expense increased to $299M from $50M, according to.
From 247wallst.com
Why it matters
The $21 billion acquisition of Exact Sciences is impacting Abbott Laboratories' financial performance. The rise in interest expense and the drop in EPS reflect the financial costs associated with integrating the subsidiary.
Abbott Laboratories acquired Exact Sciences, a company specializing in cancer diagnostics, in a move that also involved competition in the medical device market.
From 247wallst.com
Who's involved
- Abbott LaboratoriesAcquired Exact Sciences and integrated it as a subsidiary.
- Exact SciencesThe company that was acquired by Abbott Laboratories.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Abbott's financial strain may impact Humana's CRC screening partnershipAbbott's financial strain may impact Humana's CRC screening partnershipPossible
- Abbott's financial strain may open market opportunities for Boston ScientificBoston Scientific may benefit from Abbott's financial strain following Exact Sciences acquisitionPossible
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The entities involved
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Abbott Laboratories
American global health care and medical device products company
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Exact Sciences
American company in Madison, United States
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