January 22, 2020 / 3:34 PM / 2 months ago

Incoming Abbott CEO says not looking to do any deals

Jan 22 (Reuters) - Abbott Laboratories’ incoming Chief Executive Officer Robert Ford said on Wednesday that deal-making was not on the company’s agenda. “On the M&A side, we’re not looking to do any deals right now,” Ford, who currently serves as chief operating officer, said on a conference call.

“We’ve got kind of payments that are due in the next few years, and that’s all kind of contemplated in our capital plan.”

Ford also noted that Abbott intended to raise dividend payments to shareholders.

Ford is set to replace longtime CEO Miles White in March and is expected to prioritize sales of glucose monitoring device Freestyle Libre and MitraClip, a device used to repair leaky heart valves. (Reporting by Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)

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