Abbott Splitting; Santa Ana Unit to Retain Corporate NameOriginally published October 19, 2011 at 10:22 a.m., updated October 19, 2011 at 11:04 a.m.
Abbott Medical Optics, a Santa Ana-based eye-device unit of Abbott Laboratories in Chicago, will remain under the Abbott name in a company split announced today.
Abbott, which has annual sales of some $40 billion, said it plans to separate into two companies. One would include its medical devices, diagnostics, and nutritional and generic drug units and retain the Abbott name. The other would be a research-based company that would handle branded drugs under a new name.
Abbott Medical came about through Abbott’s $2.8 billion buy of Advanced Medical Optics Inc. in 2010.
See the Oct. 24 edition of the Orange County Business Journal for more on the story.