Abbott Laboratories is Dealing to Flank Other Drug Makers
Abbott Laboratories (NYSE:ABT) has paid a record amount of $10 million to Neurocrine Biosciences Inc (NASDAQ:NBIX) for a phase 2 clinical trial to evaluate a hormone called elagolix. Moreover, the top drug manufacturer has more than 20 of its new medicines in the final stages of clinical trial. It has also received approvals from the U.S Food and Drug Administration (FDA) for a significant number of new lab tests and other cancer treatment processes.
Abbott Laboratories (NYSE:ABT) rose slightly in today’s market session and the last trade price was $50.60. It has experienced a steady rise and fall in the last month with no significant swings. However, on a six month time horizon investors seem to be more bullish on the stock.
Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Merck & Co., Inc. (NYSE:MRK), GlaxoSmithKline plc (NYSE:GSK), Bristol Myers Squibb Co. (NYSE:BMY), Eli Lilly & Co. (NYSE:LLY), Pfizer Inc. (NYSE:PFE), Novartis AG (NYSE:NVS), Mylan Inc. (NASDAQ:MYL), Amgen, Inc. (NASDAQ:AMGN), and Sanofi-Aventis SA (NYSE:SNY).