March 1 Diagnostic company Alere Inc
said on Wednesday it would delay filing its 2016 annual report
as it was reviewing the revenue recognition practices at its
South Korean and Japanese units.
As part of the review, the company is also reviewing
"inappropriate conduct" at its South Korea unit, Standard
Diagnostics Inc, Alere said in a regulatory filing. (bit.ly/2lSHn3o)
Abbott Laboratories in December moved to terminate
its proposed acquisition of Alere, citing a "substantial loss"
in the value of the company since they struck a deal in January
Since the two companies announced the deal, Alere has faced
(Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by