This week, the long-anticipated split of Abbott Laboratories (ABT)finally took place. Shareholders who held their shares before the start of 2013 will now hold one share in Abbott Laboratories and one share in AbbVie (ABBV).
The Split
As a result of the split, shareholders will now own a medical device company which continues to operate under its old name. Shareholders will furthermore hold one share in AbbVie which continues with its proprietary pharmaceutical activities. Both companies generate roughly $21 billion and $18 billion in annual revenues, respectively.
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