Abbott Laboratories May Sell Vaccines Business

Pills, syringe and thermometer.As reported by the Wall Street Journal, Abbott Laboratories, the drug and medical device manufacturer, is considering selling its vaccine business.

The news comes just months after Abbot t purchased the pharmaceutical unit of Belgium company, Solvay in February for $6.2 billion.

The purchase of Solvay granted Abbott access to the emerging markets in Eastern Europe and Asia along with new therapeutic areas, including hormone therapies and vaccines.

Shares of Abbott fell 63 cents to $46.55 in afternoon trading.

It is expected that pharmaceutical industry giants such as GlaxoSmithKline and AstraZeneca may enter a bidding war for the vaccines business.

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