Abbott to combine U.S., international units
Abbott Laboratories’ U.S. pharma chief, Donald Patton, plans to retire at the end of the month, but rather than fill his existing job the company will combine the U.S. unit with its international counterpart, according to Dow Jones.
The new "proprietary pharmaceuticals division" will be led by Carlos Alban, head of the international pharma business. Abbott is streamlining its operations in the face of patent expirations and drug-development woes. The company last month announced 1,900 job cuts centered on its U.S. pharma operations, on top of 3,000 cuts companywide last fall. Abbott is also increasingly focused on international markets, having recently bought Piramal Healthcare's drug unit, becoming India's largest drugmaker in one fell swoop.