Health :: Abbott to Expand Presence in Lipid Management Market with Acquisition of Kos Pharmaceuticals
Abbott and Kos Pharmaceuticals, Inc. today announced a definitive agreement for Abbott to acquire Kos for $78 per share in cash, for a total transaction value of $3.7 billion, net of cash currently held by Kos. Based in Cranbury, N.J., Kos is a specialty pharmaceutical company that develops and markets proprietary medications for the treatment of chronic cardiovascular, metabolic and respiratory diseases. The company has a growing presence in the $20 billion lipid management market.