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Abbott Laboratories

Type	Public
Traded as	: ABT S&P 100 Component S&P 500 Component
Industry	Health care
Founded	1888; 130 years ago (1888) (as Abbott Alkaloidal Company)
Founder	Dr. Wallace Calvin Abbott
Headquarters	Lake Bluff, Illinois, U.S.
Area served	Worldwide
Key people	Miles D. White (Chairman & CEO) Brian B. Yoor (Executive VP & CFO)
Products	Branded generic drugs Medical devices Diagnostic assays Nutritional products
Revenue	US$ 27.39 billion (2017)
Operating income	US$ 1.73 billion (2017)
Net income	US$ 477 million (2017)
Total assets	US$ 76.25 billion (2017)
Total equity	US$ 31.10 billion (2017)
Number of employees	~99,000 (2017)
Website	www.abbott.com
Footnotes / references

Abbott Laboratories is an American health care company with headquarters in Lake Bluff, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; it eventually grew to also sell research-based drugs, medical devices, diagnostics, and nutritional products. It split off the research-based pharmaceuticals into Abbvie in 2013. In 2017, revenues were $27.39 billion.

Abbott has a broad range of branded generic pharmaceuticals, medical devices, diagnostics, and nutrition products. The company's in-vitro diagnostics business performs immunoassays and blood screening. Its medical tests and diagnostic instrument systems are used worldwide by hospitals, laboratories, blood banks, and physician offices to diagnose and monitor diseases such as HIV, hepatitis, cancer, heart failure and metabolic disorders, as well as assess other indicators of health. In 1985, the company developed the first HIV blood-screening test.

Abbott Point-of-Care manufactures diagnostic products for blood analysis to provide health care professionals diagnostics information at the point of patient care. Abbott also provides point-of-care cardiac assays to the emergency department.

In 1888 at the age of 30, Wallace Abbott (1857–1921), an 1885 graduate of the University of Michigan, founded the Abbott Alkaloidal Company. At the time, he was a practicing physician and owned a drug store. His innovation was the use of the active part of a medicinal plant, generally an alkaloid (e.g., morphine, quinine, strychnine and codeine), which he formed into tiny "dosimetric granules". This approach was successful since it produced more consistent and effective dosages for patients.

Abbott's first international affiliate was in London in 1907, and the company later added an affiliate in Montreal, Canada (Fact 21). 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 located at Landhi and Korangi in Karachi continue to produce pharmaceutical products. Expansion continued in 1962 when Abbott entered into a joint venture with Dainippon Pharmaceutical Co., Ltd., of Osaka, Japan, to manufacture radio-pharmaceuticals. 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. In 1965, Abbott's expansion in Europe continued with offices in Italy and France. Abbott Laboratories has been present in India for over 100 years through its subsidiary Abbott India Limited and it is currently India's largest healthcare products company.