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Times Staff and Wire Reports

Abbott Laboratories to Buy MediSense: The purchase, for about $876 million, or $45 a share, is a first step in the drug maker’s plan to find ways to revive revenue and profit growth. MediSense Inc., based in Waltham, Mass., is the world’s fourth-largest maker of glucose self-testing systems for people with diabetes. Abbott Park, Ill.-based Abbott Laboratories said the transaction, which is expected to be completed in five weeks, will give it “superior technology” that will help it in the glucose-monitoring market, the fastest-growing segment of the diagnostics market. MediSense stock rose $14.3125 to $44.5625 in trading of 4.78 million shares on Nasdaq. Abbott shares rose 12.5 cents to $40.75 in trading of 2 million on the New York Stock Exchange.

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