AcquisitionsApr 29, 2026, 04:33 PM
ABT Acquires Exact Sciences for $20.6B; Q1 Net Sales +7.8%
AI Summary
Abbott Laboratories completed the acquisition of Exact Sciences for approximately $20.6 billion, funded primarily by $20.0 billion in new long-term debt, expanding its cancer diagnostics portfolio. For Q1 2026, net sales increased by 7.8% to $11.16 billion, but net earnings decreased by 18.7% to $1.08 billion, and diluted EPS fell by 19.7% to $0.61, largely due to acquisition-related costs and increased interest expense. The company also noted a $495 million plaintiff verdict in a necrotizing enterocolitis (NEC) lawsuit, the resolution of which could be material to financials.
Key Highlights
- Acquired Exact Sciences for $20.6B on March 23, 2026, funded by $20.0B in new long-term debt.
- Q1 2026 Net Sales increased 7.8% to $11.16B from $10.36B in Q1 2025.
- Q1 2026 Net Earnings decreased 18.7% to $1.08B from $1.33B in Q1 2025.
- Q1 2026 Diluted EPS decreased 19.7% to $0.61 from $0.76 in Q1 2025.
- Medical Devices sales rose 13.2% to $5.54B; Established Pharmaceutical sales up 13.2% to $1.43B.
- Nutritional Products sales decreased 6.0% to $2.02B.
- Long-term debt increased to $29.64B from $9.90B at Dec 31, 2025.
- Noted a $495M plaintiff verdict in a necrotizing enterocolitis (NEC) lawsuit.