UBS Maintains a 'Buy' on Abbott Labs (ABT); Better Late Than Never; Filling A Strategic Need

UBS maintains a 'Buy' on Abbott Labs (NYSE: ABT) price target raised from $60 to $62.00.

UBS analyst says, "ABT had been working on oral agents internally, but licensed GLPG's GLPG0634 based on high selectivity for JAK-1 (better safety) & stage of development (Ph2 vs. pre-clinical for internals). ABT to pay $150M upfront for ww rights + $200M if Ph2 is successful. Milestones could total $1.35B; GLPG will receive tiered double-digit royalties. Add'n of an oral agent is an important milestone for ABT.

For an analyst ratings summary and ratings history on Abbott Labs click here. For more ratings news on Abbott Labs click here.

Shares of Abbott Labs closed at $56.61 yesterday.

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