Since Abbott announced in February 2016 that it has acquired the leader of the POCT (Point of Care) industry, Alere, for $5.8 billion, the industry has shaken. Over the past six months, this scene has been a major event, and I’m going to talk to you. The current story of the acquisition of the drama, the story is probably as follows:
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In February 2016, Abbott announced the acquisition of Alere for $5.8 billion. After the release of the acquisition news, Alere announced the postponement of the release of the 2015 annual report data.
In March, Alere received a US court hearing to investigate its marketing activities in Africa, Asia and Latin America.
In April, Abbott announced the acquisition of St. Jude Medical for $25 billion.
In April, Abbott offered to pay Alere $50 million to terminate the acquisition, and the Alere board immediately rejected the offer.
In July, Alere recalled the INRatio coagulation analyzer according to FDA requirements.
Alere finally announced 2015 financial data on August 8th
Let us briefly analyze the situation of the two protagonists in the play, first look at the four main problems faced by Alere, financial omissions, court investigations, several recalls and lack of performance.
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Financial omission
Let's take a look at the latest disclosures from Alere.
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Financial omissions refer to Alere's sales contract from 2013 to the third quarter of 2015, which is not yet shipped, as sales revenue, mainly in Africa and China. As can be seen from the table, this practice only increased sales revenue of 8 million and 13 million US dollars in 2013 and 2014, accounting for less than 1% of the total operating income of the year, possibly Africa and China. The district is related to performance. For less than 1% of sales, Alere has caused such a big trouble for himself, which is not worth the candle. This also reflects some of Alere's management problems.
Court investigation
At the end of February 2016, Alere acknowledged the receipt of a US court hearing to investigate its marketing activities in Africa, Asia and Latin America. The court suspected that Alere had illegal activities in the activities of agents and health care system officials in these regions.
In July 2016, the US court again filed a report on Alere, mainly for its laboratory in Tennessee, which investigated the bills for patient public health care since 2010, and also included investigations into possible commercial bribery.
Based on the well-known reasons in the medical industry , similar investigations are normal, but the time of this investigation is too bad for Alere.
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