Abbott Laboratories

MedImmune Inc. and pharmaceutical giant Abbott Laboratories said yesterday that they've struck an alliance to market MedImmune's promising new drug to prevent a common infant respiratory disease.The agreement, potentially worth more than $60 million for the Gaithersburg-based biotechnology company, covers marketing rights for Medi-493. MedImmune is developing the drug to prevent respiratory syncytial virus, or RSV, in infants.RSV is the most common cause of hospitalization for children under 1 year old in the United States, striking about 90,000 children annually, according to pediatric experts.

A weekly briefing on the economic calendar Monday Earnings reports: Genentech Inc. Tuesday Earnings reports: Ameritrade Holding Corp.; PepsiCo Inc. Wednesday May trade balance Earnings reports: Abbott Laboratories; Advanced Micro Devices Inc.; Apple Computer Inc.; Harley-Davidson Inc.; Yum Brands Inc. Thursday June retail sales, Consumer Price Index Earnings reports: Genzyme Corp.; Marriott International Inc.; Novartis AG; Southwest Airlines Co.; UnitedHealth Group Inc. Friday May business inventories, June Producer Price Index, June industrial production Earnings reports: First Data Corp.

As a result of the alleged excessive use of stent implants by Dr. Mark Midei and his profitable relationship with stent-maker Abbott Laboratories, Sen. Max Baucus said: "Hospital patients expect their care to be based on medical need, not profits" ("Stents report finds potential fraud," Dec. 6). You have to wonder what planet Senator Baucus lives on. Doesn't he understand that the entire medical system in this nation is driven by the profit motive? It begins with the health insurers and ends in the operating room.

North American Vaccine, of Beltsville, and Abbott Laboratories, of Abbott Park, Ill., signed an agreement yesterday for Abbott to market and distribute North American Vaccine's DTaP vaccine for the prevention of diphtheria, tetanus and acellular pertussis, or whooping cough, in the United States.North American is seeking Food and Drug Administration approval to market the vaccine in the United States. The agreement provides for an investment of up to $42 million by Abbott. On signing, North American Vaccine received an equity investment, marketing fee and clinical development payment from Abbott totaling $13 million.

I read with interest your front page article "Midei's attorney calls doctor's ties to industry commonplace" (Dec. 11). In discussing how Dr. Mark Midei "allowed Abbott Laboratories to throw parties at his Monkton home and accepted thousands of dollars in consulting fees," his attorney, Stephen L. Snyder, concluded: "it was business as usual for the medical profession. … All of these events were legal; they are done uniformly by all practitioners. " Ridiculous! I've practiced medicine for over 40 years, and I must have gotten in the wrong line.

MedImmune Inc. raised $66.3 million in a private placement of stock with three institutional investors, the company said yesterday.The Gaithersburg-based biotechnology firm, which is developing treatments for infectious diseases, said 1.7 million new shares of common stock will be issued at $39 per share to BB Biotech, Investor AB and Invesco Funds Group.The company said the transaction depends upon Securities and Exchange Commission approvals.Upon closing of the financing, MedImmune will have 26.2 million shares outstanding.

"Dividends over the past few years have taken a back seat as investors focused on capital gains," says S&P Outlook. "But with the market's downturn in 2000 and the slaughter of technology stocks, dividends are coming back in favor." Here are some stocks listed that paid dividends for at least 50 years and that have increased in each of the past five years: Abbott Laboratories, Bristol-Myers Squibb Co., Exxon Mobil Corp., Hershey Foods Corp., Johnson & Johnson Co., McCormick & Co. Inc. and PNC Financial Services Group Inc. "Investor uncertainty due to the slowing U.S. economy has `junk' (low quality, high yield)

MedImmune Inc. said yesterday it has filed for approval from the Food and Drug Administration to market in the United States its new drug to prevent a common infant respiratory disease.The move has been anticipated for some time by analysts.The Gaithersburg-based company said it has selected Synagis as the trade name for the drug, developed to prevent serious respiratory syncytial virus, or RSV, disease in infants and young children.Before the FDA makes a decision on the request, an advisory body must hold a public hearing on the proposal.