Wachtell counsels Abbott Laboratories on Pharmaceuticals Spinoff
The law firm Wachtell, Lipton, Rosen & Katz is playing a role of advisor in spinning off Abbotts’s pharmaceuticals division. It will be now a new publicly traded company in a bid to make its stock more lucrative to investors. Its medical devices, diagnostics, nutritional and generic drugs businesses will remain under the Abbott, but its drug division will turn in to its own company which has yet to be named. Edward Herlihy partner and cochairman of the executive committee of Wachtell will lead a team to advice Abbott. Corporate partners Lawrence Makow and David Lam will join him. Wachtell, Lipton, Rosen & Katz is an international business law firm.