Abbott Laboratories

Abbott Laboratories

Abbott Laboratories is an internationally renowned healthcare corporation with a mission to enhance life quality by innovating a wide array of products and technologies that cater to comprehensive healthcare needs. With a science-driven portfolio that encapsulates diagnostics, medical devices, nutritionals, and branded generic pharmaceuticals, Abbott extends its services to over 150 countries and employs an expansive workforce of approximately 107,000 individuals.

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Abbott Laboratories logo

History

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Abbott Labs and downtown, Chicago

Founded in 1888 by Dr. Wallace Calvin Abbott, Abbott Laboratories began its journey with Dr. Abbott's aspiration to create more potent and consistent medicinal treatments utilizing the active components of medicinal plants. These innovative "dosimetric granules", crafted in his Chicago apartment, laid the foundation stone for Abbott Laboratories. As time progressed, the company ventured into diverse domains including pharmaceuticals, medical device manufacturing, diagnostic assays development, nutritional product creation, and even animal health solutions^[1].

Product Portfolio

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FreeStyle libre Blood Glucose Monitor

Abbott Laboratories boasts an extensive array of healthcare solutions. Their services and products are primarily segmented into four pivotal domains:

• Diagnostics: Abbott champions the introduction of pioneering instrument systems and tests, targeting hospitals, reference labs, molecular labs, blood banks, clinics, and physician offices.
• Medical Devices: Abbott's inventory includes an eclectic mix of medical devices such as cardiovascular instruments, neuromodulation devices, and products catering to diabetes care.
• Nutritionals: A trailblazer in nutritional science, research, and innovation, Abbott crafts a vast spectrum of nutritional solutions and supplements catering to diverse age groups.
• Branded Generic Pharmaceuticals: Through its Established Pharmaceuticals Division (EPD), Abbott introduces a series of branded generic pharmaceuticals^[2].

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Pediasure at Kroger

Related Products/Brands: Alere, Cyclamate, EAS (nutrition brand), Ensure, Pediasure, Hospira, Similac

International Footprint

With its products reaching the shelves in over 150 nations, Abbott Laboratories showcases a monumental global footprint. Their dominant markets encompass the United States, Germany, China, Japan, and India. The corporation's global head office is stationed in Illinois, USA, and it flaunts a vast network of R&D, manufacturing, and distribution units globally^[3].

Ethical Operations

A staunch advocate of principled corporate practices, Abbott Laboratories is deeply invested in devising transformative technologies, fostering resilient communities, and championing environmental conservation. This unwavering commitment has consecutively secured Abbott a position on the Dow Jones Sustainability Index (DJSI) for seven successive years^[4].

Further Reading

• Pharmaceutical industry
• Healthcare industry
• Medical devices
• Clinical diagnostics
• AbbVie
• St. Jude Medical

Citations

• 1 Abbott Laboratories: Our Rich History. (2022). Available at https://www.abbott.com/about-abbott/our-history.html
• 2 Abbott Laboratories' Comprehensive Product Catalogue. (2022). Accessible at https://www.abbott.com/products.html
• 3 A Glimpse into Abbott Laboratories' Global Outreach. (2022). Retrieved from https://www.abbott.com/global-locations.html
• 4 Abbott Laboratories' Corporate Citizenship Endeavors. (2021). Referenced from https://www.abbott.com/corpnewsroom/citizenship/corporate-citizenship-report.html