Abbott Laboratories (ABT)
What is Abbott Laboratories?
Abbott Laboratories is a US healthcare company that employs around 99,000 people and delivers its services in over 150 countries worldwide. Abbott produces and distributes a range of products under such popular brands as PediaSure, Glucerna, Similac, Absorb and others. Its mission statement is: “To improve lives by providing cost-effective health care products and services.”
The company focuses on the following healthcare segments: Nutrition, Vascular Care, Diabetes Care, Vision, Pharmaceuticals and Diagnostics. It advocates for innovation in medicine and works to improve vision correction, take heart health treatments to the next level and introduce innovative methods of diabetes management.
Abbott has also pioneered new ways to screen, diagnose and monitor a wide range of health conditions with greater speed and accuracy. In pharmaceuticals, the company has revolutionised packaging and delivery to meet regional needs and offer access to medicines in areas that once lacked them.
Who are the key people at Abbott Laboratories?
Miles D. White is Chairman and Chief Executive Officer of Abbott. He has held both roles since 1999, and first joined the company back in 1984. Another key figure at Abbott Laboratories is Brian Blaser, Executive Vice President, Diagnostics Products. He leads Abbott's diagnostics, molecular and point-of-care businesses. Robert Ford is Executive Vice President, Medical Devices.
What is the modern history of Abbott Laboratories?
Abbott was incorporated in 1894, and its initial public offering took place in 1929. Among a number of landmark developments in the second half of the 20th century was the acquisition of M&R Dietetics in 1964, which made the company a leader in nutrition. Abbott’s modern diagnostics business took off in the early 1970s, and in 1985 the FDA approved the firm’s test to identify HIV in blood. In 1998 Abbott introduced Glucerna – a range of snack bars and shakes for diabetics. The first decade of the 21st century saw FDA approval of antibody drug Humira, which became the world’s leading pharmaceutical product.
What are the latest developments at Abbott Laboratories?
In January 2017 Abbott completed the acquisition of St Jude Medical – a development which put the company in a leading position in the medical devices sector. Abbott now holds the No.1 or No.2 positions in nearly every segment of the $30 billion cardiovascular market. In 2017 Abbott also recorded 40 per cent growth in its neuromodulation business, attaining the No.1 spot in spinal cord neurostimulation.
In February 2018, Abbott announced a licensing deal with mid-tech firm Surmodics Inc that could be worth up to $92 million. Under the agreement, Surmodics will exclusively license its SurVeil drug-coated balloon device to Abbott. Surmodics is testing it as a treatment for peripheral artery disease.
Since the start of 2015, the Abbott share price has ranged from a low of around $37 in February 2016 to over $60 in January 2018. The company’s market capitalisation on 2 March 2018 was $103.5 billion. Our ABT chart tracks Abbott’s recent share price movements.
Where does Abbott Laboratories operate?
Abbott is headquartered in Chicago, Illinois. It has a truly global presence, with operations across the Americas, Europe and Asia Pacific – including China, India, Japan, Australia and New Zealand.
Where is Abbott Laboratories traded?
Abbott Laboratories is listed on the New York Stock Exchange. As of 2017, the shares were mainly held by institutional investors such as BlackRock, State Street Corporation and The Vanguard Group. Check out Capital.com for the latest ABT chart.