Abbott Completes Acquisition of Ibis Biosciences, a Subsidiary of Isis
CARLSBAD, Calif. and ABBOTT PARK, Ill.,
Previously, Abbott invested
"We believe that Abbott is the ideal company to move the Ibis technology
into larger commercial markets, such as clinical diagnostics, where Ibis'
technology can revolutionize infectious disease detection," said
"This acquisition will enable Abbott to offer an innovative approach to the detection and characterization of a broad array of pathogens for the management of infectious diseases," said Stafford O'Kelly, Vice President, Molecular Diagnostics, Abbott. "Ibis' unique technology and talented team of scientists will help us continue building a long-term product pipeline for our growing molecular diagnostics business."
About Abbott Molecular
Abbott's molecular diagnostics business, headquartered in Des Plaines, Ill., provides physicians with critical information based on the early detection of pathogens and key changes in patients' genes and chromosomes, allowing for earlier diagnosis, selection of appropriate therapies and monitoring of disease progression. The business includes instruments and reagents used to conduct sophisticated analysis of patient DNA and RNA.
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 more than 68,000 people and markets its products in more than 130 countries.
Abbott's news releases and other information are available on the company's Web site at www.abbott.com.
Isis is exploiting its expertise in RNA to discover and develop novel
drugs for its product pipeline and for its partners. The Company has
successfully commercialized the world's first antisense drug and has 19 drugs
in development. Isis' drug development programs are focused on treating
cardiovascular and metabolic diseases. Isis' partners are developing
antisense drugs invented by Isis to treat a wide variety of diseases. Isis is
a joint owner of
This press release includes forward-looking statements regarding
Private Securities Litigation Reform Act of 1995 --A Caution Concerning Forward-Looking Statements
Some statements in this news release may be forward-looking statements for
the 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. Economic, competitive, governmental, technological and other
factors that may affect Abbott's operations are discussed in Item 1A, "Risk
Factors," to Abbott's Annual Report on Securities and Exchange Commission Form
10-K for the year ended
In this press release, unless the context requires otherwise, "Isis" and
"Company" refers to
Isis Pharmaceuticals, Inc.-0- 01/06/2009/CONTACT: Kristina Lemonidis, Director, Corporate Communications, +1-760-603-2490, or Amy Blackley, Ph.D., Manager, Corporate Communications, +1-760-603-2772, both of Isis Pharmaceuticals, Inc.; or Don Braakman, Public Affairs, Diagnostics, +1-847-937-0080, or +1-847-772-3263, or Tina Ventura, Director, Corporate Communications, +1-847-935-9390, both of Abbott/ /Web Site: http://www.abbott.com http://www.isispharm.com / ( ISIS ABT) CO: Isis Pharmaceuticals, Inc.; Abbott; Ibis Biosciences, Inc.ST: California, IllinoisIN: MEQ MTC HEA IDC SU: TNM PR -- LA55545 -- 8695 01/06/2009 09:30 ESThttp://www.prnewswire.com