The suburban Chicago drug and medical product giant is splitting into a medical products business that will be called AbbVie, and trade under a new ticker symbol, ABBV, while the other company will retain the Abbott name and largely be focused on medical products including devices, diagnostics and nutritional products.

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Decision Diagnostics distribute at-home diagnostics and testing products for the chronically ill.

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It followed news earlier this week that US-based medical products company Daktari Diagnostics is to locate its manufacturing base to Inverness, creating up to 126 posts.

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The premise: Buy up lots of small companies in a fragmented business--such as used cars, funeral homes, office products, food distribution and medical diagnostics--then purchase raw materials in bulk to cut costs.

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Moderate growth is expected from vascular and diagnostics division (excluding to certain royalty and supply arrangement revenues and currency impact), after the company launched various products including its next-generation Drug Eluting Stent XIENCE Xpedition and XIENCE PRIME in different parts of the world.

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