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Dec 13, 2006

Abbott Owns Majority of Kos Shares

  • Abbott Laboratories has purchased a majority of Kos Pharmaceuticals’ outstanding shares and intends to offer $78 per remaining share. The transaction came after Abbott’s initial offer expired on December 12, 2006, and the company decided not to extend it.

    Abbott reports that it now owns about 91.4% of Kos' outstanding common stock. In November, Abbott offered to buy Kos for $3.7 billion to expand its presence in the lipid management market, provide several on-market products, and strengthen its late-stage pipeline, says Miles D. White, chairman and CEO. The cash tender offer was for $78 per share, a 56% premium over Kos’ closing price the day before.



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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