Abbott Laboratories splitting in two
Abbott Laboratories announced it will split into two separate companies, marking a major strategy change in the company’s 123-year history. The split will create a diversified medical products company and a pharmaceutical research & development company. School of Management Dean Kenneth Freeman is a former Kohlberg Kravis & Roberts managing director and former CEO of Quest Diagnostics. He offers the following comment on the split:
“The plan to split Abbott in two is consistent with a longstanding approach to unleash shareholder value — creating separate enterprises that have a singular business focus and are hence easier for investors to understand and place a value on.
“In this case, it’s pharma and medical products — two businesses with different challenges and opportunities for growth.”
Contact Freeman at 617-358-6170; email@example.com