Abbott Laboratories - Company Profile
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View moreBusiness Description
Abbott Laboratories (Abbott) offers nutritional products, medicines, diagnostic devices and solutions in diabetes, cardiovascular and neuromodulation therapy areas. The company operates through four reportable segments, namely, Nutritional Products, Diagnostic Products, Established Pharmaceutical Products and Medical Devices.
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R&D Overview
Abbott focuses on the discovery and development of new products and enhancement of existing products and processes. The company also concentrates on the development process, geographic expansion and continuous improvement of its Established Pharmaceuticals segment’s existing products to provide benefits to patients and customers. The R&D activities of the Medical Devices segment consist of research on a specific technology, which is evaluated for feasibility and commercial viability. The development process of the Nutritional segment consists of identifying and developing ingredients and products that address the nutritional needs of a particular population (infants and adults) or patients including people with diabetes. In FY2023, Abbott spent US$2,741 million on its R&D, which as a percentage of revenue, stood at 6.8%. It has R&D facilities in California, Illinois, Minnesota, New Jersey, and Ohio, the US; Colombia; India; Singapore; Spain; and the UK.
Business Segments
Overview
Offers diagnostic systems and tests to hospitals, commercial laboratories, blood centers, emergency departments, government agencies, physician offices and clinics, alternative care testing sites and plasma protein therapeutic companies. Major products include laboratory systems, molecular diagnostic systems, genomic-based tests, point of care systems, rapid diagnostic systems, cartridges for blood analysis, molecular point-of-care testing, cardiometabolic testing, drug and alcohol testing, remote patient monitoring and consumer self-testing, and informatics and automation solutions for use in laboratories. Other products include assays used for screening and diagnosis of cancer, therapeutic drug monitoring, cardiac, drugs of abuse, metabolics, general chemistries, fertility, and infectious diseases.
Performance
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Overview
Offers branded generic drugs across the world. Its sells products directly to wholesalers, government agencies, distributors, health care facilities, pharmacies, and independent retailers. The major gastroenterology products include Creon for pancreatic exocrine insufficiency; Heptral, Transmetil and Samyr for intrahepatic cholestasis or depressive symptoms; Duspatal and Dicetel for irritable bowel syndrome or biliary spasm, and Duphalac for the regulation of the physiological rhythm of the colon. The major women's health products include Duphaston for gynecological disorders; and Femoston, a hormone replacement therapy for postmenopausal women. Major cardiovascular and metabolic products include Lipanthyl and TriCor for dyslipidemia; Teveten, Teveten Plus and Physiotens to treat hypertension; and Synthroid for hypothyroidism. The major pain and central nervous system products include Serc for Meniere's disease and vestibular vertigo; Sevedol for severe migraines; and Brufen for pain, fever, and inflammation. The major respiratory drugs and vaccines include anti-infective clarithromycin and Influvac influenza vaccine.
Performance
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Overview
Offers rhythm management, heart failure, electrophysiology, vascular and structural heart devices for the treatment of cardiovascular diseases; neuromodulation devices for the management of chronic pain and movement disorders; and diabetes care products for people with diabetes. The major rhythm management products include Assurity MRI and Endurity MRI pacemaker systems; Quadra Assura MP implantable cardioverter defibrillator; Ellipse and Fortify Assura implantable cardioverter defibrillators; MultiPoint pacing technology; and Confirm Rx implantable cardiac monitor. Major electrophysiology products include TactiCath ablation catheter, EnSite Precision cardiac mapping system, FlexAbility irrigated ablation catheter, and the Advisor HD Grid mapping catheter. The major heart failure related products include HeartMate left ventricular device and CardioMEMS HF System pulmonary artery sensor. The major vascular products include drug-eluting coronary stent systems, vessel closure devices, coronary balloon dilatation products, guidewires, peripheral vascular stent system, carotid stent systems, imaging catheter and fractional flow reserve measurement systems. The critical structural heart products include percutaneous mitral valve repair system, heart valves, occluders and transcatheter mitral valve implantation system. The critical continuous glucose and blood glucose monitoring systems include sensors, test strips, data management decision software, and accessories for people with diabetes. Its significant neuromodulation products include spinal cord stimulators, implantable pulse generators, neurostimulation devices, and brain stimulation system.
Performance
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Overview
Offers pediatric and adult nutritional products that meet the nutritional needs of people with chronic illnesses. It sells directly to consumers; and also through a network of distributors to institutions, retailers, wholesalers, health care facilities, government agencies and third-party distributors. It offers major infant formula and follow-on formula products including Similac range of products, Soy Isomil, NeoSure, Alimentum, Grow and Gain. The key adult and other pediatric nutritional products include Ensure family of products, Glucerna, ProSure, Glucerna Hunger Smart, PediaSure, PediaSure Sidekicks, PediaSure Peptide, EleCare, Juven, Abound, Zone Perfect and Pedialyte. Major nutritional products used in enteral feeding in health care institutions include Jevity, Glucerna 1.5 Cal, Glucerna 1.2 Cal, Osmolite, Oxepa, Nepro, Freego (Enteral Pump) and Freego sets, and Vital.
Performance
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Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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