We suppose it’s just a matter of time before Abbott consummates a deal. The pharma giant with relatively low cash has been loitering in the M&A dance club for months, but no pick ups yet. In January, CEO Miles White said that they were on the hunt for acquisitions although some analysts were skeptical about the type of muscle Abbott had given its $5B cash position. With that relatively low bankroll, a lot of the small large caps and cancer/biologic companies might be out of the question.

Just last month, it was revealed that Abbott was “Company X” in the Pfizer/Wyeth negotiations. Pfizer beat them out.

Today, White told analysts on a conference call that Abbott wanted to do smaller deals and that:

“We don’t need large deals to achieve our financial or strategic objectives. I don’t feel the need to run out and do a deal to sustain what we’ve forcasted to shareholders.”

There’s also the rumor that Abbott might buy Solvay’s pharma unit, but again we have to wait and see. And, while we wait, take a look here and see where Miles White hangs while he contemplates The Big Move…sweeeeeeet.

Thoughts???

Image from bnet

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