Stocks in the News: Abbott Labs, J&J, Xerox


Some of the companies making headlines today:

Abbott Laboratories (ABT) said Monday it has agreed to buy Solvay Group's drug business for 4.5 billion euros ( $6.6 billion) in an all-cash deal. The deal gives Illinois-based Abbott full control of Solvay Pharmaceutical's cholesterol treatments and exposure to emerging markets. The purchase will bring Abbott more than $3 billion in annual sales, it said.

In another drug deal, Johnson & Johnson (JNJ) agreed Monday to buy an 18 percent stake in Dutch drug maker Crucell (CRXL) for 301.8 million euros ($440 million) as part of a deal to develop flu vaccines. J&J said the pact is expected to dilute current-year earnings by 2 cents to 4 cents a share. The companies will also work together to develop up to three vaccines or antibodies against both infectious and non-infectious diseases.