Abbott Laboratories is an American multinational medical device manufacturing and healthcare company. Hailing under the leadership of Dr Wallace C. Abbott, this company is quite renowned in the field of pharmacy. Over the years, the company expanded
Abbott Laboratories is an American multinational medical device manufacturing and healthcare company. Hailing under the leadership of Dr Wallace C. Abbott, this company is quite renowned in the field of pharmacy. Over the years, the company expanded its business to meet the rising global health needs, championing new areas of medical research.
Abbott was founded in 1888 in Ravenswood, Chicago. It is headquartered in Illinois, United States and operates internationally. With its first international affiliate in London in 1907, it has spread its operations across the globe. As of 2020, the company is operational in over 160 countries including Canada, Pakistan, Japan, Italy, France and India. It is one of the market leaders in adult nutrition, blood screening, remote monitoring of patients with heart diseases, and such.
Abbott’s core business focuses on nutritional products, medical devices, diagnostics and branded generic pharmaceuticals. Its range of products has been supplemented through a number of acquisitions over the years. As of 2020, the firm has six major divisions, namely Abbott Cardiovascular, Diabetes Care, Diagnostics, Neuromodulation, Nutrition and Medicines. The firm had also launched the NAVICA mobile application to help mankind during the COVID-19 breakout.
In addition to an array of products under each of its divisions, Abbott also hosts numerous brands available worldwide. These include names like PediaSure, Pedialyte, EleCare, Similac, Glucerna, FreeStyle, Ensure and ZonePerfect. Products available under these brands range from nutritional supplements to health-monitoring devices.
In 2020, Abbott was the winner of Fast Company’s “World-Changing Company of the Year” for its Amplatzer Piccolo Occluder- a device for non-surgical repair of premature babies’ patent ductus arteriosus. Between the years 1984 till 2020, Abbott was named as one of the World’s Most Admired Companies by Fortune magazine. Two dozen of its female STEM employees were honoured at the 2020 Women of Color Stem Conference. In 2019, Abbott ranked 10th in the Diversity Top 50 by DiversityInc for its variegated approach to management and leadership. Forbes ranked Abbott at 158 in its Global 2000 list of the world’s largest companies based on 2019 revenues.
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