Abbott Laboratories (ABT) is a globally recognized healthcare company that is committed to enhancing people's health through the development of life-changing technologies spanning the spectrum of healthcare. Founded in 1888 by Chicago physician, Dr. Wallace C. Abbott, the company has grown into a diverse and international organization that serves patients and health care professionals in more than 160 countries.
Over its lifetime, Abbott has evolved to ensure better health on full life’s spectrum – from disease prevention to diagnosis, to treatment, and beyond. The company focuses on four core therapeutic areas- diagnostics, medical devices, nutrition, and branded generic pharmaceuticals. Throughout all this, the company's principal aim has remained the same: to provide reliable and effective health solutions and make a significant contribution to human wellbeing.
In 2021, ABT reported annual sales of approximately $41.3 billion. The corporation has various established products, including medical devices, diagnostics, nutritionals, and branded generic pharmaceuticals. Some of its most renowned products include FreeStyle Libre, a device that revolutionized diabetes management by providing real-time glucose readings, and Alinity, a family of next-generation systems across immunoassay, clinical chemistry, point of care, hematology, blood and plasma screening and molecular diagnostics.
Furthermore, in the past two years, Abbott took a leading role in combating the global COVID-19 pandemic by rapidly developing and deploying several tests to detect the virus. They played a transformational role in managing the global COVID-19 crisis by offering fast, reliable, and accessible tests on multiple testing platforms.
One of the key features of Abbott Laboratories’ business approach is relentless innovation and investment in research and development. For over 130 years, their innovation-driven culture, combined with a clear and strategic approach, has proven to provide long-term shareholder value.
In addition to its scientific contributions, Abbott is also recognized for its commitment to responsible citizenship. The company is devoted to enhancing access to health care, protecting the environment, and strengthening communities where its employees live and work. In 2020, the company was named one of the 100 most responsible companies by Newsweek and one of Corporate Responsibility Magazine's 100 Best Corporate Citizens.
In summary, Abbott Laboratories is a global healthcare leader that thrives on discovering new ways to manage health. Driven by an innovative spirit and a desire to make a significant impact on people's health and wellbeing, Abbott continues to deliver meaningful solutions that address the world's most pressing health challenges.