Abbott

Abbott

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. The company was founded by Wallace Calvin Abbott in 1888, initially to formulate known drugs; today, it is a global leader in developing, manufacturing, and marketing a broad range of healthcare products.

History

Abbott Laboratories was established by Wallace Calvin Abbott, a physician and pharmacist, who began the company in order to formulate alkaloid-based drugs. This was a significant advancement at the time, as it allowed for more precise dosages for patients. Over the years, Abbott expanded its product line and global reach. It has made numerous acquisitions to diversify its product offerings, including the acquisition of St. Jude Medical in 2017, which significantly expanded its presence in the cardiovascular market.

Products and Services

Abbott Laboratories operates in four main segments: Diagnostics, Medical Devices, Nutritionals, and Branded Generic Pharmaceuticals.

• Diagnostics: Abbott is a leader in diagnostic testing, providing a wide range of tests for infectious diseases, cancer, and metabolic disorders. Its products include the ARCHITECT system and the Alinity series of diagnostics instruments.
• Medical Devices: The company offers products for heart diseases, diabetes, and chronic pain management, including the FreeStyle Libre, a revolutionary glucose monitoring system.
• Nutritionals: Abbott produces a variety of pediatric and adult nutritional products, including Similac, Ensure, and PediaSure.
• Branded Generic Pharmaceuticals: The company provides a broad portfolio of branded generic pharmaceuticals, primarily in emerging markets.

Research and Development

Abbott Laboratories places a strong emphasis on research and development (R&D) to innovate new products and improve existing ones. The company's R&D efforts are focused on addressing some of the most pressing health care challenges, including heart disease, diabetes, and infectious diseases.

Corporate Social Responsibility

Abbott is committed to sustainable development and has initiatives in place to reduce its environmental impact. It also runs several programs aimed at improving health care and access to medical services in underprivileged areas.

Controversies

Like many large corporations, Abbott Laboratories has faced its share of controversies, including pricing and patent disputes. However, the company has generally maintained a strong reputation for quality and innovation in the healthcare industry.

See Also

• Pharmaceutical industry
• Medical device
• Health care

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