Abbott Laboratories

Last updated

Abbott Laboratories
Company type Public
Industry
Founded1888;137 years ago (1888) (as Abbott Alkaloidal Company) in Ravenswood, Chicago
FounderWallace Calvin Abbott
Successor AbbVie   OOjs UI icon edit-ltr-progressive.svg
HeadquartersAbbott Park, Illinois, U.S.
Area served
Worldwide
Key people
Products
RevenueIncrease2.svg US$41.9 billion (2024)
Increase2.svg US$6.82 billion (2024)
Increase2.svg US$13.4 billion (2024)
Total assets Increase2.svg US$81.4 billion (2024)
Total equity Increase2.svg US$47.9 billion (2024)
Number of employees
c. 114,000 (2024)
Website abbott.com
Footnotes /references
[2]

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois. The company produces pharmaceuticals for sale outside the United States (13% of 2024 revenues), diagnostic products (20% of 2024 revenues), nutritional products (22% of 2024 revenues), and medical devices (45% of 2024 revenues). [2]

Contents

Abbott operates in over 160 countries and sources from at least 62 suppliers worldwide. [2]

Abbott's products include Pedialyte, Similac, BinaxNOW, Ensure, Glucerna, ZonePerfect, FreeStyle Libre, i-STAT and MitraClip. [2]

The company is ranked 107th on the Fortune 500 [3] and 144th on the Forbes Global 2000. [4]

History

Foundation and early history

Dr. Wallace C. Abbott Dr. Wallace C. Abbott.jpg
Dr. Wallace C. Abbott

In 1888 at the age of 30, Wallace Abbott (1857–1921), an 1885 graduate of the University of Michigan, founded the Abbott Alkaloidal Company in Ravenswood, Chicago. At the time, he was a practising physician and owned a drug store. His innovation was formulating the active part of alkaloid medicinal plants—morphine, quinine, strychnine and codeine—as tiny "dosimetric granules", producing more consistent and effective dosages for patients than the liquid preparations previously used, which deteriorated over time. [5] In 1922, the company moved from Ravenswood to North Chicago, Illinois.[ citation needed ]

International expansion

Abbott's first international affiliate was in London in 1907; the company later added an affiliate in Montreal, Canada.[ citation needed ] Abbott India Ltd was originally incorporated on August 22, 1944, as Boots Pure Drug Company (India) Ltd. The company name was changed to The Boots Company (India) Ltd on November 1, 1971, and to Boots Pharmaceuticals Ltd on January 1, 1991. On October 31, 1995, the name was changed to Knoll Pharmaceuticals Ltd and on July 1, 2002, to their present name Abbott India Ltd. Abbott started operations in Pakistan as a marketing affiliate in 1948; the company has steadily expanded to comprise a work force of over 1500 employees. Currently, two manufacturing facilities at Landhi and Korangi in Karachi continue to produce pharmaceutical products. [6] In 1962, Abbott entered into a joint venture with Dainippon Pharmaceutical Co., Ltd., of Osaka, Japan, to manufacture radio-pharmaceuticals.[ citation needed ] In 1964, it merged with Ross Laboratories, making Ross a wholly owned subsidiary of Abbott, and Richard Ross gained a seat on Abbott's board of directors until his retirement in 1983. [7] The acquisition of Ross brought Similac under the Abbott umbrella. In the years following the acquisition, Pedialyte and Ensure were introduced as nutritional products by Ross Laboratories while under Abbott's leadership. [8] [9] [10]

In 1965, Abbott's expansion in Europe continued with offices in Italy and France.[ citation needed ]

According to Harvard professor Lester Grinspoon and Peter Hedblom, "In 1966 Abbott Laboratories sold the equivalent of two million doses of methamphetamine in powder form to a Long Island criminal dealer". [11]

In 1985, Abbott partnered with Taisho Pharmaceutical for the international rights to clarithromycin, a second-generation macrolide antibiotic, and gained FDA approval for the drug under the brand name Biaxin in October 1991. Generic drug versions were approved in Europe in 2004 and in the US in mid-2005, [12] and has been added to the World Health Organization's List of Essential Medicines. [13]

2001-2010

In 2001, the company acquired Knoll, the pharmaceutical division of BASF, for $6.9 billion. [14] In 2002, it divested the Selsun Blue brand to Chattem. [15] Later in 2002, it sold Clear Eyes and Murine brands to Prestige Brands. [16]

In 2004, Abbott completed the corporate spin-off of Hospira, its hospital products division. [17] It was acquired by Pfizer in 2015. [18]

In 2004, it acquired TheraSense, a diabetes-care company, which it merged with its MediSense division to become Abbott Diabetes Care. [19] [ additional citation(s) needed ] In 2006, Abbott assisted Boston Scientific in its purchase of Guidant Corporation purchasing the vascular device division of Guidant. [20] [21]

In 2007, Abbott acquired Kos Pharmaceuticals for $3.7 billion in cash. [22] At the time of acquisition Kos marketed Niaspan (extended release niacin), and Advicor (niacin/lovastatin).

In 2007, the company was to sell two diagnostics divisions to General Electric, but the parties did not agree on the terms of the acquisition. [23]

On 8 September 2007, the company sold the UK manufacturing plant at Queenborough to UK manufacturer Aesica Pharmaceuticals. [24] [25]

Abbott's Ross Products was renamed Abbott Nutrition in 2007. [26]

In 2009, Abbott acquired Advanced Medical Optics of Santa Ana, California, selling it to Johnson & Johnson in 2017. [27] In 2009, Abbott opened a satellite research and development facility at Research Park, University of Illinois at Urbana-Champaign. [28]

In February 2010, Abbott acquired the pharmaceuticals unit of Solvay S.A. for US$6.2 billion (€4.5 billion), [29] gaining many additional pharmaceutical products and an increased presence in emerging markets. [30]

In 2010, the company acquired Hollywood, Florida-based laboratory information management system company STARLIMS for $123 million, $14 per share. [31] [32] That year Abbott said it would buy Piramal Group of India's large generic drugs unit for $3.72 billion. [33]

2013-present

Effective January 1, 2013, the company completed the corporate spin-off of AbbVie. [34] [35] [36] [37] [38] Abbott Nutrition, whose products include Similac, Pedialyte, Glucerna, and Ensure, also retained the Abbott name. [37] In preparation for the reorganization, Abbott cut 550 staff members. [39]

In May 2014, it was announced that Abbott would acquire the holding company Kalo Pharma Internacional S.L. for $2.9 billion in order to secure the 73% it held of Chilean pharmaceutical company, CFR Pharmaceuticals, which the company said would more than double its branded generic drug portfolio. [40] [41]

In December 2014, the company acquired Russian pharmaceutical manufacturer Veropharm (Voronezh) in a deal worth $410 million, which included three manufacturing facilities. [42] Abbott, which already employed 1,400 people in Russia, said it planned to set up a manufacturing presence in the country when the deal closed. [43]

In September 2015, the company acquired Tendyne Holdings, a private medical device company focused on developing minimally invasive mitral valve replacement therapies, for $250 million. [44] [45]

In September 2017, the FDA approved Abbott's FreeStyle Libre glucose monitoring system, which reads glucose levels through a self-applied sensor without finger pricks. [46]

In October 2017, the company acquired Alere for $5.8 billion. [47] [48] In January 2017, Abbott announced it would acquire St. Jude Medical for $25 billion in stock. [49] [50] [51] With the acquisition of Alere, the company also obtained the subsidiary Arriva Medical, which at one point was the largest mail-order diabetic supplier. [52] Arriva Medical closed facilities in December 2017. [53]

As of August 2018, the company was among the top five companies for branded generic drugs in Russia. [54]

Nucleic acid testing for COVID-19 conducted using an Abbott Laboratories ID Now device ID Now testing (51038387158).jpg
Nucleic acid testing for COVID-19 conducted using an Abbott Laboratories ID Now device

In November 2018, Abbott received United States FDA clearance for FreeStyle LibreLink, a glucose reader smartphone app. [55]

In January 2019, the company acquired Cephea Valve Technologies, which is developing a less-invasive replacement heart valve for people with mitral valve disease. [56]

In January 2020, the Tendyne Mitral Valve became the world's first commercially available solution for Mitral Valve Replacement Technology; with CE Mark for the device, it is possible to implant it in Europe outside of a clinical setting. [57]

In March 2020, Abbott received emergency use authorization (EUA) from the US FDA for a SARS-CoV-2 test during the COVID-19 pandemic. [58] The tester is small (comparable to a small toaster), and produces results within 13 minutes. [59] Detroit received these tests on April 1, 2020. [60] [61] Also in March, the firm received EUA for a molecular COVID-19 test that runs on its m2000 RealTime lab-based platform. [62] In April 2020, itt received EUA from the FDA for its third COVID-19 test, an antibody test that helps detect the IgG antibody to SARS-CoV-2 using the company's ARCHITECT laboratory instruments. [63] In May 2020, it received EUA from the FDA for another lab-based COVID-19 antibody test that helps detect the IgG antibody to SARS-CoV-2 using the company's Alinity i system. [63] [64] Also in May, it received EUA from the FDA for a molecular COVID-19 test for use on the company's Alinity molecular laboratory instrument. [65] [66]

In August 2020, Abbott received EUA from the FDA for its credit-card-sized $5, 15-minute, portable COVID-19 antigen test, BinaxNOW, compatible with the NAVICA mobile app. [67] [68]

In October 2020, Abbott received EUA from the FDA for its lab-based COVID-19 IgM antibody blood test. [69] In December 2020, its rapid (20') antigen BinaxNOW COVID-19 test received EUA from the FDA for home use. [70] [71] Forbes reported in January 2021 that the firm had delivered more than 400 million COVID-19 tests, 300 million in the fourth quarter of 2020. [72]

In September 2021, Abbott acquired Walk Vascular, LLC. [73]

In January 2022, Abbott introduced Lingo, a line of consumer biowearable sensors that collects a range of biological readings to optimize exercise and nutrition regimens. [74]

Following the 2022 Russian invasion of Ukraine, Abbott Laboratories continued its business operations in Russia while suspending non-essential activities such as new investments and advertising. [75] Research from Yale School of Management evaluating corporate responses to the invasion placed Abbott in the "Buying Time" category with a "Grade D" rating, indicating that it postponed future investments and marketing while continuing substantive business in Russia. [76]

In May 2022, Abbott received 510(k) clearance from the FDA for FreeStyle Libre 3, the latest version of its continuous glucose monitor. [77]

In August 2022, Abbott received FDA approval for Proclaim Plus, a multi-use spinal cord stimulation system designed to target chronic pain. The Proclaim Plus system is capable of treating six independent pain sites and has a recharge-free battery life of up to 10 years. [78]

In October 2022, Abbott received EUA from the FDA for its real-time PCR test Alinity m MPXV; this marks the first FDA emergency authorization for commercial monkeypox testing. [79]

In April 2023, the company acquired Cardiovascular Systems, developer of an atherectomy system, which is used in treating peripheral and coronary artery disease, for $851 million. [80]

On July 5, 2023, Abbott received approval from the FDA for its leadless pacemaker system Aveir DR. [81]

In September 2023, the company acquired Bigfoot Biomedical, a developer of smart insulin management systems for people with diabetes. [82] [83]

Acquisition history

Abbott Laboratories Acquisitions
  • Abbott Laboratories(Est. 1885, Abbott Alkaloidal Company)
    • Ross Laboratories (Acq 1964)
    • SmithKline Beecham (Acq 1982, later sold)
    • Knoll (Acq 2001)
    • Selsun Blue (Sold to Chattem 2002)
    • Murine (Sold to Prestige Brands 2002)
    • Clear Eyes (Sold to Prestige Brands 2002)
    • i-STAT (Acq 2004)
    • TheraSense (Acq 2004)
    • Guidant (vascular device division) (Acq 2006)
      • IntraLase Corp (Acq 2007)
    • Advanced Medical Optics (Acq 2009)
    • Solvay Pharmaceuticals (Acq 2010)
    • STARLIMS (Acq 2010)
      • Lab Data Management Ltd (Acq 2008)
    • IDEV Technologies (Acq 2013)
    • OptiMedica Corporation (Acq 2013)
    • Veropharm (Acq 2014)
    • Topera, Inc (Acq 2014)
    • Kalo Pharma Internacional S.L. (Acq 2014)
    • Tendyne Holdings Inc. (Acq 2015)
    • Alere (Acq 2016)
      • Epocal, Inc. (Acq 2013)
      • Arriva Medical (Acq 2012)
    • St. Jude Medical (Est 1976, Acq 2016)
      • Pacesetter, Inc. (Acq 1994)
      • Daig Corporation (Acq 1996)
      • Heart Valve Company (Acq 1996)
      • Biocor Industria (Acq 1996)
      • Ventritex (Acq 1997)
      • Tyco International (Angio-Seal division) (Acq 1999)
      • Endocardial Solutions (Acq 2005)
      • Advanced Neuromodulation Systems (Acq 2005)
      • MediGuide (Acq 2008)
      • AGA Medical (Acq 2010)
      • LightLab Imaging (Acq 2010)
      • Nanostim Inc (Acq 2013)
      • Endosense (Acq 2013)
      • CardioMEMS Inc. (Acq 2014)
      • Spinal Modulation (Acq 2015)
      • Thoratec Corporation (Acq 2015)
    • Cephea Valve Technologies, Inc. (Acq 2019)
    • Walk Vascular, LLC (Acq 2021)
    • Cardiovascular Systems, Inc. (Acq 2023)
    • Bigfoot Biomedical (Acq 2023)

Financials

YearRevenue
in mil. US$		Net income
in mil. US$		Total assets
in mil. US$		Price per share
in US$		Employees
200522,3383,37229,14117.37
200622,4761,71736,17817.46
200725,9143,60639,71421.34
200829,5284,88142,41921.89
200930,7655,74652,58219.51
201035,1674,62660,57420.75
201121,4074,72860,27721.26
201219,0505,96367,23526.57
201319,6572,57642,95331.9069,000
201420,2472,28441,20737.3977,000
201520,4054,42341,24743.1674,000
201620,9981,40052,66638.6575,000
201727,39047776,25047.5099,000
201830,5782,36867,17369.50103,000
201931,9043,68767,88786.86107,000
202034,6084,49572,548109.49109,000
202143,0757,07175,196140.74113,000

Operations

Organization

Abbott's FreeStyle libre FreeStyle libre am Oberarm und Auslesegerat-1.JPG
Abbott's FreeStyle libre

Abbott's core businesses focus on diagnostics, medical devices, branded generic medicines and nutritional products, which have been supplemented through acquisitions. [2]

The firm's divisions are: [2]

Management

Miles D. White.jpg
Miles D. White
Robert B Ford.jpg
Robert B. Ford

Miles D. White joined the company in 1984, holding positions including senior vice president of diagnostic operations, executive vice president, executive chairman, and CEO. [39] In 1996, Robert B. Ford joined Abbott, holding various positions including executive vice president of the company's medical device business. [84]

In November 2019, White announced that he was stepping down as CEO after 21 years. [84] In March 2020, Robert B. Ford took over as president and CEO, [85] and later chairman. [86]

Recognition

Products

Box of Abbott products Box of Abbott Panbio COVID-19 antigen rapid AG nasal tests.jpg
Box of Abbott products

Nutrition

Pediatric nutrition products manufactured by Abbott Laboratories include: [2]

Adult nutrition products manufactured by Abbott Laboratories include:

Diagnostics

Diagnostics products manufactured by Abbott include: [2]

Medical devices

Continuous glucose monitors:

Cardiovascular devices manufactured by Abbott Laboratories include: [2]

Neuromodulation devices manufactured by Abbott Laboratories include:

Litigation and controversies


Use of double Irish arrangement and single malt tax to reduce taxation

Before it was abolished, Abbott allegedly took advantage of the double Irish arrangement tax structure, a then-legal but controversial Irish taxation tool used by US multinationals to reduce US corporate taxes on non-U.S profits. [102] Abbott's Irish holding company, the Bermuda-resident Abbott Laboratories Vascular Enterprises (ALVE), employed no staff in 2017, but was responsible for distributing Abbot's products and licensing its technology worldwide. [102] ALVE was incorporated in 2003 and had a pre-tax profit of €2 billion in 2016 and 2017 on revenues of €5.2 billion; no taxation was paid on these profits. [102] ALVE had never filed accounts in Ireland since 2003 as it was structured as an unlimited liability company (ULC); however, new EU accounts directives required ALVE to file Irish accounts in 2018. [102] These accounts listed ALVE's registered office as the address of Ireland's largest tax-law firm, Matheson, who have been identified with Double Irish tax structures for Microsoft and Google. [102] [103]

In September 2021, the Irish Times reported that Abbott was using the Single malt tax structure to shield profits on its COVID-19 testing kits. [104] [105]

Leuprorelin

In October 2001, the US Department of Justice, states attorneys general, and TAP Pharmaceutical Products, a subsidiary of Abbott Laboratories, settled criminal and civil charges against TAP related to federal and state Medicare fraud and illegal marketing of the drug leuprorelin. [106] TAP paid a total of $875 million, a record high pharmaceutical settlement. [107] [108] This comprised $290 million for violating the Prescription Drug Marketing Act, $559.5 million to settle federal fraud charges for overcharging Medicare, and $25.5 million reimbursement to 50 states and Washington, D.C., for filing false claims with the states' Medicaid programs. [108] The case arose under the False Claims Act with claims filed by Douglas Durand, a former TAP vice president of sales, and Joseph Gerstein, a doctor at Tufts University's HMO practice. [107] Durand, Gerstein, and Tufts shared $95 million of the settlement. [107]

There have since been various suits concerning leuprorelin use, none successful. [109] [110] These lawsuits have focused on either the over-prescription of the drug or the lack of warnings about its potential side effects. Between 2010 and 2013, the FDA updated the Lupron drug label to include new safety information on the risk of thromboembolism, loss of bone density and convulsions. [111] The FDA then said that the benefits of leuprorelin outweighed its risks when used according to its approved labeling. From 2017 the FDA evaluated leuprorelin's connection to pain and discomfort in musculoskeletal and connective tissue. [112]

Humira

In March 2003, British company Cambridge Antibody Technology (CAT) stated its wish to "initiate discussions regarding the applicability of the royalty offset provisions for Humira" (Adalimumab) with Abbott Laboratories in the High Court of London. In December 2004, the judgment ruled for CAT. [113]

Abbott was required to pay CAT US$255 million in lieu of royalties the MRC, the Scripps Research Institute and Stratagene would have received on sales of Humira after December 2004. Some of this sum was to be passed to its partners in development, including US$191 million for the UK Medical Research Council (MRC), plus a further $7.5 million over five years from 2006 providing that Humira remained on the market. [114]

Operation Headwaters

In October 2003, Abbott Laboratories and two of its units agreed to pay a total of $600 million in the first combined civil settlement and criminal conviction for offering kickbacks to agents of "Operations Headwaters", an undercover investigation by the FBI. [115]

Depakote

On 2 October 2012, the company was charged with a $500 million fine and $198.5 million forfeiture for illegal marketing of Depakote for uses not approved by the FDA. The court also sentenced Abbott to a five-year term of probation and court supervision. [116] Shareholders then brought derivative suits against the company directors for breach of fiduciary duty. [117] [118] Following Abbott's spinoff of its research-based pharmaceuticals business, it no longer owns the commercial rights and associated responsibilities for Humira and Depakote. [119]

Glucose monitors

In 2021, two of Abbott Laboratories' subsidiaries, Arriva Medical LLC and Alere Inc, had to pay $160m to resolve claims that they had fraudulently billed Medicare for glucose monitors. The US Department of Justice said that Arriva used free glucose monitors to induce patients to order more consumable supplies, then took kickbacks on the increased sales. The company was also accused of charging Medicare for glucose monitors given to patients who were ineligible, or even dead. [120]

Plant shutdown

In February 2022, Abbott recalled baby formulas from the market and shut down their Michigan plant after complaints of illness and death in infants caused by serious bacterial infections. Following Abbotts' meeting the initial requirement of the U.S. Food & Drug Administration, the facility reopened in June 2022. [121] [122] [123] [124]

Deep Brain Stimulation Device Recall

On July 18, 2023, Abbott recalled its Proclaim and Infinity IPGs due to complaints from patients who are unable to exit MRI mode. The use of the affected IPGs may require surgery to remove the device and replace it with a new device.

There have been 186 reported incidents and 73 reported injuries. There have been no reports of death. [125] Noted by Gita Amar, a PR representative for Abbott Laboratories on this issue. "The company has communicated this action to physicians and regulatory bodies. No products need to be returned to the company or replaced." [126]

Necrotizing Enterocolitis (NEC) Lawsuit

On July 26, 2024, a jury ordered Abbott Laboratories to pay $495 million in the case of Margo Gill vs. Abbott Laboratories, comprising $95 million in compensatory damages and $400 million in punitive damages. [127] The lawsuit alleged that Abbott's infant formula for premature babies increased the risk of necrotizing enterocolitis (NEC), a gastrointestinal disease that can cause intestinal tissue death and can be life-threatening.

Sponsorship

In 2015 Abbott became the title sponsor of the World Marathon Majors. [128]

See also

Notes

  1. ↑ pacemaker, received FDA approval on July 5, 2023

References

  1. ↑ Japsen, Bruce. "After 20 Years, Abbott Labs CEO Miles White Has Successor in Mind". Forbes. Archived from the original on 2 February 2023. Retrieved 10 September 2019.
  2. 1 2 3 4 5 6 7 8 9 "US SEC: Form 10-K Abbott Laboratories". U.S. Securities and Exchange Commission. 21 February 2025.
  3. ↑ "Abbott Laboratories" . Fortune .
  4. ↑ "Abbott Laboratories". Forbes .
  5. ↑ "Abbott Laboratories Company History". Funding Universe. Archived from the original on 2 June 2012. Retrieved 17 April 2013.
  6. ↑ "Abbott in Pakistan | Abbott". www.pk.abbott. Archived from the original on 18 June 2021. Retrieved 5 July 2023.
  7. ↑ "RICHARD MOORE ROSS, 77, ABBOTT LABS EXECUTIVE". Chicago Tribune . 11 December 1993. Archived from the original on 30 September 2022. Retrieved 2 June 2019.
  8. ↑ "Ross Laboratories - Ohio History Central". ohiohistorycentral.org. Archived from the original on 30 September 2022. Retrieved 2 April 2020.
  9. ↑ Rose, Marla Matzer. "Abbott Labs plans $62 million investment in Columbus". The Columbus Dispatch. Archived from the original on 20 August 2020. Retrieved 2 April 2020.
  10. ↑ "Welcome Sherri Blanchard, M.D., to Douglas Primary Care – Casper, WY Oil City News". Oil City News. 10 January 2020. Archived from the original on 29 November 2022. Retrieved 2 April 2020.
  11. ↑ Grinspoon, Lester; Hedblom, Peter (1975). The Speed Culture: Amphetamine Use and Abuse in America . Cambridge, Massachusetts: Harvard University Press. p.  23. ISBN   9780674831926. OCLC   1362148. strasenburgh prescription.
  12. ↑ Vieweg WV, Hancox JC, Hasnain M, Koneru JN, Gysel M, Baranchuk A (August 2013). "Clarithromycin, QTc interval prolongation and torsades de pointes: the need to study case reports". Therapeutic Advances in Infectious Disease. 1 (4): 121–138. doi:10.1177/2049936113497203. PMC   4040724 . PMID   25165548.
  13. ↑ World Health Organization model list of essential medicines: 21st list 2019. Geneva: World Health Organization. 2019. hdl: 10665/325771 . WHO/MVP/EMP/IAU/2019.06. License: CC BY-NC-SA 3.0 IGO.
  14. ↑ "Abbott Closes Early On Knoll Acquisition". Chicago Tribune. 3 March 2001.
  15. ↑ "Company News; Chattem Buys Selsun Blue Shampoo Brand From Abbott". The New York Times. Reuters. 6 March 2002. Archived from the original on 10 March 2024. Retrieved 10 March 2024.
  16. ↑ Smith, Scott S. (11 January 2018). "Miles White's Bold Moves Made Abbott Laboratories A Global Force". Investor's Business Daily. Archived from the original on 20 November 2021. Retrieved 25 December 2018.
  17. ↑ Higginbotham, Stacey (25 January 2004). "Abbott Labs to spin off unit". American City Business Journals . Archived from the original on 14 January 2016.
  18. ↑ Dabney, Jillian (9 September 2016). "Pfizer's Hospira Deal: Catching Up a Year Later". Market Realist. Archived from the original on 28 September 2022.
  19. ↑ Sandred, Jan (14 January 2004). "$1 billion medical deal / Abbott Labs to buy Therasense, maker of glucose monitors". SFGATE. Archived from the original on 10 March 2024. Retrieved 10 March 2024.
  20. ↑ Feder, Barnaby; Sorkin, Andrew Ross (18 January 2006). "Boston Scientific, With Abbott's Help, Raises Bid for Guidant". The New York Times. Archived from the original on 10 March 2024. Retrieved 10 March 2024.
  21. ↑ Feder, Barnaby (27 September 2006). "Johnson & Johnson Sues Boston Scientific, Guidant and Abbott Laboratories Over Deal". The New York Times. Archived from the original on 10 March 2024. Retrieved 10 March 2024.
  22. ↑ Smith, Scott S. (11 January 2018). "Miles White's Bold Moves Made Abbott Laboratories A Global Force". Investor's Business Daily. Archived from the original on 20 November 2021. Retrieved 25 December 2018.
  23. ↑ Layne, Rachel; Lopatto, Elizabeth (11 July 2007). "GE, Abbott End $8.13 Billion Diagnostic Sale Deal (Update2)". Bloomberg News. Archived from the original on 24 September 2015. Retrieved 5 March 2017.
  24. ↑ "Aesica Containment Facility". Pharmaceutical Technology. 7 November 2013. Archived from the original on 7 June 2023. Retrieved 10 March 2024.
  25. ↑ Tighe, Chris (8 July 2007). "Aesica seizes some bargain buys". Financial Times. Archived from the original on 10 March 2024. Retrieved 10 March 2024.
  26. ↑ Wilson, Paul. "End of an era: Abbott retires Ross Products name". The Columbus Dispatch. Retrieved 2 April 2020.
  27. ↑ "Johnson & Johnson completes $4.3B acquisition of Abbott Medical Optics in Santa Ana". Orange County Register. 28 February 2017. Archived from the original on 2 December 2022. Retrieved 22 November 2019.
  28. ↑ "Abbott Labs leasing space in UI research park". The News Gazette. 2 May 2009. Archived from the original on 20 November 2022. Retrieved 22 November 2019.
  29. ↑ "Abbott Completes Acquisition of Solvay Pharmaceuticals" (Press release). PR Newswire. 26 February 2010.
  30. ↑ "Abbott Laboratories Feb 2010 Current Report, Form 8-K, Filing Date Feb 16, 2010" (PDF). secdatabase.com. Archived (PDF) from the original on 23 May 2013. Retrieved 27 December 2012.
  31. ↑ "Abbott sets deal to buy Starlims". Chicago Tribune. 15 December 2009. Archived from the original on 10 March 2024. Retrieved 10 March 2024.
  32. ↑ "Abbott Completes Acquisition of STARLIMS Technologies" (Press release). PR Newswire. 22 March 2010.
  33. ↑ Loftus, Peter; Ahmed, Rumman. "Abbott Labs to Buy Indian Business". The Wall Street Journal . Archived from the original on 5 August 2023. Retrieved 26 September 2019.
  34. ↑ Armstrong, Drew (2 January 2013). "AbbVie Rises on First Day of Trading After Abbott Spinoff". Bloomberg News . Archived from the original on 30 March 2022.
  35. ↑ "Abbott Completes Separation of Research-Based Pharmaceuticals Business" (Press release). PR Newswire. 2 January 2013.
  36. ↑ "More than splitting pills: Health care giant Abbott Laboratories ready to spin off AbbVie" . Chicago Tribune . 30 December 2012. Archived from the original on 3 July 2021.
  37. 1 2 de La Merced, Michael; Japsen, Bruce (19 October 2011). "Abbott Labs to Split into 2 Companies". The New York Times . Archived from the original on 17 June 2022.
  38. ↑ Rockoff, Jonathan D. (20 October 2011). "Abbott to Split into Two Companies" . The Wall Street Journal . Archived from the original on 12 December 2022.
  39. 1 2 "Abbott Labs 3Q net income rises; lays off 550". CNBC . 17 October 2012.
  40. ↑ "Abbott to acquire CFR Pharmaceuticals". Bloomberg News . 16 May 2014. Archived from the original on 19 December 2014. Retrieved 16 May 2014.
  41. ↑ "Abbott Grows Branded Generics with $3.3B CFR Acquisition". Genetic Engineering & Biotechnology News . 15 June 2014.
  42. ↑ "Abbott Acquires Veropharm To Expand Presence in Russia". Forbes. Archived from the original on 20 August 2020. Retrieved 17 October 2019.
  43. ↑ "Abbott Laboratories (ABT) Key Developments". Reuters.com. Archived from the original on 25 August 2011.
  44. ↑ "Abbott Completes Acquisition of Tendyne Holdings, Inc". PR Newswire. 1 September 2015.
  45. ↑ "Abbott acquires Tendyne Holdings". Jones Day . September 2015.
  46. ↑ "FDA approves Abbott's Freestyle Libre glucose monitoring system". Medical Device Network. 29 September 2017. Archived from the original on 17 October 2019.
  47. ↑ "Abbott to Acquire Alere for $5.8B". Genetic Engineering & Biotechnology News . February 2016. Archived from the original on 2 February 2016. Retrieved 1 February 2016.
  48. ↑ Michelle Cortez (1 February 2016). "Abbott's $5.8 Billion Deal for Alere Is Device Sector's Latest". Bloomberg L.P. Archived from the original on 11 October 2016. Retrieved 5 March 2017.
  49. ↑ Michelle Cortez (28 April 2016). "Abbott to Buy St. Jude Medical in Deal Valued at About $25 Billion". Bloomberg L.P. Archived from the original on 7 March 2020. Retrieved 5 March 2017.
  50. ↑ "Abbott-St. Jude Combination: Why It Makes Sense". Bloomberg L.P. 28 April 2016. Archived from the original on 15 April 2017. Retrieved 5 March 2017.
  51. ↑ "Abbott to Gain from Alere's Takeover Due for Oct 3 Closure". GEN. Archived from the original on 5 October 2017. Retrieved 5 October 2017.
  52. ↑ "Mail-Order Diabetic Testing Supplier and Parent Company Agree to Pay $160 Million to Resolve Alleged False Claims to Medicare" (Press release). United States Department of Justice. 2 August 2021.
  53. ↑ "Embattled Arriva Medical closes". GEN. Archived from the original on 6 December 2017. Retrieved 6 December 2017.
  54. ↑ "Factbox: U.S. companies with exposure to Russia". Reuters. 9 August 2018. Archived from the original on 1 December 2020. Retrieved 29 January 2019.
  55. ↑ "With new FDA clearance, Abbott Freestyle Libre users can ditch handheld readers for an app". Mobi Health News. November 2018. Archived from the original on 20 February 2020. Retrieved 17 October 2019.
  56. ↑ "Abbott To Acquire Cephea Valve Technologies, Inc". BioSpace. Archived from the original on 20 August 2020. Retrieved 2 June 2019.
  57. ↑ "Abbott's Tendyne™ Device Receives World's First CE Mark for Transcatheter Mitral Valve Implantation" (Press release). PR Newswire. 30 January 2020.
  58. ↑ "FDA Approves Abbott Laboratories Coronavirus Test, Company To Ship 150,000 Kits". International Business Times. 19 March 2020. Archived from the original on 20 March 2020.
  59. ↑ Hauck, Grace. "'A game changer': FDA authorizes Abbott Labs' portable, 5-minute coronavirus test the size of a toaster". USA Today. Archived from the original on 28 April 2020. Retrieved 30 March 2020.
  60. ↑ Mufson, Steven. "The scramble for the rapid coronavirus tests everybody wants". The Washington Post . Archived from the original on 10 February 2021. Retrieved 2 April 2020.
  61. ↑ Burns, Matt (2 April 2020). "Detroit to be first to deploy Abbott Labs' 5-minute COVID-19 test, mayor says". TechCrunch. Archived from the original on 17 July 2024. Retrieved 2 April 2020.
  62. ↑ Newmaker, Chris (19 March 2020). "Abbott receives FDA emergency use authorization for coronavirus test". massdevice.com. Archived from the original on 13 April 2021. Retrieved 13 April 2021.
  63. 1 2 Rachal, Maria (15 April 2020). "Abbott enters coronavirus antibody testing fray". medtechdive.com. Archived from the original on 13 April 2021. Retrieved 13 April 2021.
  64. ↑ Slabodkin, Greg (11 May 2020). "Latest Abbott coronavirus antibody test receives FDA emergency use OK". medtechdive.com. Archived from the original on 13 April 2021. Retrieved 13 April 2021.
  65. ↑ Perchetti, Garrett A.; Pepper, Gregory; Shrestha, Lasata; LaTurner, Katrina; Yae Kim, Da; Huang, Meei-Li; Jerome, Keith R.; Greninger, Alexander L. (July 2021). "Performance characteristics of the Abbott Alinity m SARS-CoV-2 assay". Journal of Clinical Virology. 140 104869. doi:10.1016/j.jcv.2021.104869. ISSN   1386-6532. PMC   8118701 . PMID   34023572.
  66. ↑ Boyle, Annette (12 May 2020). "Two Abbott COVID-19 tests receive EUA". bioworld.com. Archived from the original on 13 April 2021. Retrieved 13 April 2021.
  67. ↑ Newmarker, Chris (27 August 2020). "Abbott wins EUA for COVID-19 test that runs off a card". massdevice.com. Archived from the original on 13 April 2021. Retrieved 13 April 2021.
  68. ↑ "This $5 rapid test is a potential game-changer in COVID-19 testing". abc7.com. 27 August 2020.
  69. ↑ Whooley, Sean (13 October 2020). "Abbott wins FDA EUA for COVID-19 IgM antibody test". massdevice.com. Archived from the original on 14 April 2021. Retrieved 14 April 2021.
  70. ↑ Perchetti, Garrett A.; Huang, Meei-Li; Mills, Margaret G.; Jerome, Keith R.; Greninger, Alexander L. (18 February 2021). Loeffelholz, Michael J. (ed.). "Analytical Sensitivity of the Abbott BinaxNOW COVID-19 Ag Card". Journal of Clinical Microbiology. 59 (3): e02880–20. doi:10.1128/JCM.02880-20. ISSN   0095-1137. PMC   8106729 . PMID   33310764.
  71. ↑ Kilgore, Tomi (16 December 2020). "Abbott Labs' at-home, $25 rapid COVID-19 test gets EUA from FDA". MarketWatch . Archived from the original on 14 April 2021. Retrieved 14 April 2021.
  72. ↑ Japsen, Bruce (27 January 2021). "Abbott Profits Rise As Covid-19 Diagnostic Sales Eclipse 400 Million Tests". Forbes. Archived from the original on 14 April 2021. Retrieved 14 April 2021.
  73. ↑ "Abbott Expands Peripheral Vascular Offerings with Acquisition of Walk Vascular, LLC". 2 September 2021. Archived from the original on 3 September 2021. Retrieved 3 September 2021.
  74. ↑ Park, Andrea (6 January 2022). "Abbott unveils Lingo line of sports biosensors based on diabetes monitoring tech". FierceBiotech . Questex. Archived from the original on 23 January 2023.
  75. ↑ Varney, Sarah (10 March 2022). "Which Companies Aren't Exiting Russia? Big Pharma". KFF Health News. Retrieved 20 February 2025.
  76. ↑ "Over 1,000 Companies Have Curtailed Operations in Russia—But Some Remain | Yale School of Management". som.yale.edu. Retrieved 20 February 2025.
  77. ↑ Nick Paul Taylor (31 May 2022). "Abbott's Libre 3 glucose monitor gets FDA clearance as CGM market intensifies". MedTechDive. Archived from the original on 29 December 2022. Retrieved 29 December 2022.
  78. ↑ Park, Andrea (23 August 2022). "Abbott proclaims FDA approval of neurostimulator to treat pain in 6 areas at once". FierceBiotech . Questex.
  79. ↑ Nick Paul Taylor (10 October 2022). "Abbott lands FDA emergency authorization for first commercial monkeypox test". MedTechDive. Archived from the original on 29 December 2022. Retrieved 29 December 2022.
  80. ↑ "Abbott Completes Acquisition of Cardiovascular Systems, Inc" (Press release). PR Newswire. 27 April 2023.
  81. 1 2 "MSN". MSN .
  82. ↑ "Abbott Completes Acquisition of Bigfoot Biomedical" (Press release). PR Newswire. 22 September 2023.
  83. ↑ "Abbott to Acquire Bigfoot Biomedical, Furthering Efforts to Develop Personalized, Connected Solutions for People with Diabetes". 5 September 2023. Archived from the original on 7 September 2023. Retrieved 7 September 2023.
  84. 1 2 Dana Elfin. "Abbott names Robert Ford new CEO, ending Miles White's 21-year tenure in March". Medtechdive. Archived from the original on 14 April 2020. Retrieved 19 March 2020.
  85. ↑ "Abbott CEO Miles White to step down in March" . Retrieved 8 April 2020.
  86. ↑ Park, Andrea (13 December 2021). "Abbott elects CEO Ford chairman of the board as predecessor White retires after 40 years". FierceBiotech . Questex. Archived from the original on 29 December 2022.
  87. ↑ "World's Most Admired Companies". Fortune . Archived from the original on 26 October 2021.
  88. ↑ "Fortune's Blue Ribbon Companies 2021". Fortune . Archived from the original on 26 October 2021.
  89. ↑ "Change the World". Fortune . Archived from the original on 21 September 2021.
  90. ↑ Jay Woodruff (8 March 2022). "The 10 most innovative companies in sports in 2022". Fast Company.
  91. ↑ "These innovative projects are changing the health industry". Fast Company. 3 May 2022. Archived from the original on 13 February 2023. Retrieved 13 February 2023.
  92. ↑ Whooley, Sean (28 October 2022). "Abbott FreeStyle Libre named 'best medical technology' in last 50 years by Galien Foundation". MassDevice. Archived from the original on 5 July 2023. Retrieved 5 July 2023.
  93. ↑ "2022 100 BEST COMPANIES WINNERS". Seramount. Archived from the original on 13 February 2023.
  94. ↑ "2022 TOP COMPANIES FOR EXECUTIVE WOMEN WINNERS". Seramount. Archived from the original on 13 February 2023.
  95. ↑ "Abbott". Working Mother. Archived from the original on 10 August 2020. Retrieved 2 April 2020.
  96. ↑ "2020's Top Employers: Rapid response to COVID-19, diversity, and innovation". Science Magazine. Archived from the original on 26 October 2021. Retrieved 26 October 2021.
  97. ↑ "2022 TOP 50 COMPANIES FOR DIVERSITY". DiversityInc. 7 July 2023. Archived from the original on 13 February 2023.
  98. ↑ "Abbott Achieves Highest Score in Its Industry for the Ninth Consecutive Year on the Dow Jones Sustainability Index (DJSI)". Bloomberg. 15 November 2021.
  99. ↑ Smith, Joseph (Joe); Varga, Anita; Schober, Karsten E. (2020). "Comparison of two commercially available immunoassays for the measurement of bovine cardiac troponin I in cattle with induced myocardial injury". Frontiers in Veterinary Science. 7 531. doi: 10.3389/fvets.2020.00531 . ISSN   2297-1769. PMC   7481330 . PMID   33062647.
  100. ↑ Betsy Morris (25 August 2021). "Which Covid-19 Test Should You Get, Based on Your Needs". The Wall Street Journal. Archived from the original on 30 August 2021. Retrieved 30 August 2021.
  101. ↑ "Freestyle libre 3 Sensor". Cgm Monitors. Archived from the original on 24 May 2023. Retrieved 19 August 2022.
  102. 1 2 3 4 5 Bodkin, Peter (19 March 2019). "How the IDA's top client used Ireland to siphon billions offshore tax-free". TheJournal.ie . Archived from the original on 19 March 2019.
  103. ↑ Paletta, Damian; Linebaugh, Kate (15 October 2013). "Dublin Moves to Block Controversial Tax Gambit". The Wall Street Journal . Archived from the original on 16 June 2018.
  104. ↑ Leahy, Pat (15 September 2021). "Pharma giant Abbott using Irish 'single-malt' scheme to avoid tax on profits". The Irish Times . Archived from the original on 15 September 2021. Retrieved 16 September 2021.
  105. ↑ Taylor, Cliff (15 September 2021). "How Abbott Labs devised its formula for 'single Malt' taxation". The Irish Times . Archived from the original on 15 September 2021.
  106. ↑ Charatan, Fred (13 October 2001). "Drug companies defrauded Medicare of millions". BMJ: British Medical Journal. 323 (7317): 828. doi:10.1136/bmj.323.7317.828a. ISSN   0959-8138. PMC   1121385 . PMID   11597964.
  107. 1 2 3 Petersen, Melody (4 October 2001). "2 Drug Makers to Pay $875 Million to Settle Fraud Case". The New York Times. ISSN   0362-4331 . Retrieved 24 January 2022.
  108. 1 2 "#513: 10-03-01 TAP PHARMACEUTICAL PRODUCTS INC. AND SEVEN OTHERS CHARGED WITH HEALTH CARE CRIMES COMPANY AGREES TO PAY $875 MILLION TO SETTLE CHARGES". www.justice.gov. Archived from the original on 11 November 2020. Retrieved 24 January 2022.
  109. ↑ "What You Should Know About Lupron Class Action Lawsuit". Law Answer. 8 May 2021. Archived from the original on 28 February 2022. Retrieved 28 February 2022.
  110. ↑ "Abbott, AbbVie Defeat Long-Running Lupron Bone, Joint Suit (1)". news.bloomberglaw.com. 29 September 2021. Archived from the original on 28 February 2022. Retrieved 28 February 2022.
  111. ↑ "More women come forward with complaints about Lupron side effects". KTNV. 12 February 2019. Retrieved 28 February 2022.
  112. ↑ "January - March 2017 | Potential Signals of Serious Risks/New Safety Information Identified by the FDA Adverse Event Reporting System (FAERS)". FDA. 3 January 2023. Archived from the original on 28 February 2022. Retrieved 28 February 2022. With updates; last update 6 January 2023.
  113. ↑ "Cambridge Antibody Wins Lawsuit Against Abbott Labs (Update5) – Bloomberg". Bloomberg News . 16 July 2023. Archived from the original on 24 September 2015. Retrieved 5 March 2017.
  114. ↑ "MRC to receive over USD200m". LifeArc. 26 October 2005. Archived from the original on 27 September 2022. Retrieved 28 February 2022.
  115. ↑ "#613: 11-10-03 JUSTICE DEPT. CIVIL FRAUD RECOVERIES TOTAL $2.1 BILLION FOR FY 2003 FALSE CLAIMS ACT RECOVERIES EXCEED $12 BILLION SINCE 1986". www.justice.gov. Archived from the original on 24 January 2022. Retrieved 24 January 2022.
  116. ↑ Abbott Labs to Pay $1.5 Billion to Resolve Criminal & Civil Investigations of Off-label Promotion of Depakote Archived 21 August 2014 at the Wayback Machine , Press Release, United States Department of Justice Office of Public Affairs, 7 May 2012. Retrieved 17 August 2014.
  117. ↑ U.S. ex rel. McCoyd v. Abbott Laboratories, 1:07-cv-00081 (W.D. Va.); U.S. ex rel. Mulcahy v. Abbott Laboratories, 1:08-cv-0054 (W.D. Va.); U.S. ex rel. Dietzler v. Abbott Laboratories, 1:09-cv-00051 (W.D. Va.); U.S. ex rel. Spetter v. Abbott Laboratories, 1:10-cv-00006 (W.D. Va.).
  118. ↑ "Abbott, Shareholders Agree To Settle Depakote Marketing Suit - Law360". www.law360.com. Archived from the original on 4 March 2016. Retrieved 5 July 2023.
  119. ↑ Krauskopf, Ransdell Pierson (21 October 2011). "Abbott ultra-bullish on Humira despite spinoff plan". Reuters. Archived from the original on 20 August 2020. Retrieved 22 November 2019.
  120. ↑ Stempel, Jonathan (2 August 2021). "Abbott Labs to pay $160 mln over kickbacks, false diabetes claims to Medicare". Reuters. Archived from the original on 24 January 2022. Retrieved 24 January 2022.
  121. ↑ "Explainer: What happened with Abbott baby formula that worsened a U.S. shortage?". Reuters. 17 May 2022. Archived from the original on 4 June 2022. Retrieved 4 June 2022.
  122. ↑ Aboulenein, Ahmed; Heavey, Susan (19 May 2022). "U.S. FDA says Abbott baby formula plant on track to reopen in 1-2 weeks". Reuters. Retrieved 4 June 2022.
  123. ↑ "Baby formula shortage could ease as Abbott reopens Michigan plant". Reuters. 4 June 2022. Retrieved 4 June 2022.
  124. ↑ "Abbott baby formula aftermath: One dead child and another with brain damage so bad she has constant seizures and crying bouts". Fortune Well. Archived from the original on 18 March 2024. Retrieved 18 March 2024.
  125. ↑ Health, Center for Devices and Radiological (13 September 2023). "Abbott Medical Recalls Proclaim and Infinity IPGs for Inability to Exit Magnetic Resonance Imaging (MRI) Mode". FDA. Archived from the original on 20 September 2023. Retrieved 22 September 2023.
  126. ↑ "Abbott Recalls Certain Proclaim, Infinity Neurostimulation Devices". 13 September 2023. Archived from the original on 28 October 2023. Retrieved 22 September 2023.
  127. ↑ "TorHoerman Law Obtains $495 Million NEC Verdict as Lead Counsel in Infant Formula NEC Trial Against Abbott Laboratories". TorHoerman Law, LLC. 3 April 2025. Retrieved 3 April 2025.
  128. ↑ "ABBOTT CELEBRATES THE POWER OF HEALTH AND ACHIEVEMENT AS FIRST-EVER TITLE SPONSOR OF WORLD MARATHON MAJORS". World Marathon Majors. Archived from the original on 4 March 2016. Retrieved 10 November 2015.

42°18′06″N87°53′45″W / 42.30175°N 87.89595°W / 42.30175; -87.89595

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.