(Reuters) – Abbott Laboratories, which is in the process of buying St. Jude Medical Inc for $25 billion, said the companies would sell some of their medical devices to Japan-based Terumo Corp for about $1.12 billion. Abbott said on Tuesday the deal is an important step toward completion of the St. Jude acquisition, which is scheduled to close by the year-end. The deal is subject to the successful completion of Abbott's acquisition of St. Jude and other approvals.
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St. Jude and Abbott to sell some medical devices for $1.12 billion