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Meadowlark Optics - Wave Plates 6/24 LB 2024

Abbott Labs Completes Purchase of SpectRx Stock

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NORCROSS, Ga., Jan. 5 -- Abbott Laboratories has purchased $2.5 million in convertible redeemable preferred stock of SpectRx Inc., bringing Abbott's total purchase of SpectRx stock to $5.25 million. SpectRx reported that the stock purchase was part of an agreement between the two companies to jointly develop a continuous glucose monitor for diabetics. The agreement assigns to Abbott exclusive worldwide marketing rights to continuous monitoring applications and to single-use monitoring applications of the technology. SpectRx will receive a royalty on sales of disposable devices, and...Read full article

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    Published: January 2000
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