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Message from the ChairmanWelcome to Abbott. Thanks for your interest in our company. I invite you to learn more about us what we do and what we can do for you or someone you care about. And Abbott.com is the perfect place the largest single source of information about our company, and one that's always available to you. Our company is a multi-national enterprise and a broadbased medical innovator, with leadership in technologies and businesses across the spectrum of health care. Whether it's maintaining health or detecting and treating medical conditions, our diverse lines of businesses enable us to serve more people better than ever before. Our goal at Abbott is very straightforward: to help the people who depend upon us by continuing to advance medical science. We do this in many ways through our products that directly help patients, through our advocacy for causes we believe in, and through our global humanitarian efforts that help people in need around the world. We are guided in this work by a commitment to building on opportunities that significantly improve health and the practice of health care. We deliver on this commitment by staying true to a core set of values:
We set our sights on pioneering solutions that advance health care. We strive to achieve results for those we serve by setting our own high standards. We share a deep passion for our work and caring for the people we help. We are here for the long term building on our strong, enduring heritage and continuing to invest in the future to address health needs where they are the greatest.
At Abbott, we don't take our success for granted. Our 68,000 employees around the world know that it is the result of hard work, a commitment to excellence, and a desire to make a difference in all that we do. We are proud of our achievements, and we will continue to work hard to deliver on our promise. Thank you for taking the time to get to know our company and our work. Best regards, Miles D. White Chairman of the Board and Chief Executive Officer
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About AbbottWe are a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Our products span the continuum of care, from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Our comprehensive line of products encircles life itself addressing important health needs from infancy to the golden years. Throughout our 120+ year history, Abbott people have been driven by a constant goal: to advance medical science to help people live healthier lives. Its part of our heritage. And, it continues to drive our work. Today, 68,000 Abbott employees around the world share the passion for "Turning Science into Caring." It's a commitment to focusing on what matters most: life and the potential it holds when we are feeling our best. Abbott has sales, manufacturing, research and development, and distribution facilities around the world, close to where our customers need us to be. We are recognized for our global reach and our ability to serve our customers around the world. Abbott prides itself on being recognized as a good place to work because we strive to provide an environment that enables employees to succeed. We have received numerous local, national and international distinctions for our commitment to workplace excellence. Our programs range from award-winning health care benefits to a variety of convenience and wellness services and long-term retirement benefits. Our commitment to improving life extends to humanitarian causes. We recognize that as a leading provider of innovative health care products, we have a unique responsibility and opportunity to ensure people have access to them whether they are among the poor and underprivileged or are victims of natural disasters. Were determined to do our part through creative and varied social programs. The promise of our company is in the promise that our work holds for health and for life.
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HistoryMore than a century ago, 30-year-old Dr. Wallace C. Abbott, a practicing physician and drug store proprietor, founded the Abbott Alkaloidal Company. Using the active - or alkaloid - part of a medicinal plant, he formed tiny pills, called dosimetric granules, which provided a more accurate and effective dosing for his patients than other treatments available at the time. The demand for these accurate granules soon far exceeded the needs of his own practice and from these modest origins was born Abbott, one of the worlds most broad-based health care companies and a leader in the discovery, development and manufacture of products that span the continuum of care. Abbott trademarks and products in-licensed by Abbott are shown in italics. Founding and Modern Science: 1888 - 1910 Growth and Service: 1916 - 1938 Progress: 1939 - 1959 Expansion to Specialization: 1962 - 1988 Specialization: 1990 - 1998 Transformation: 1990 Present
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Founding and Modern Science: 1888 1910From the very beginning, Dr. Abbott and the companys early founders championed scientific investigation to benefit patients. With alkaloidal medicine, Abbotts founders were pioneers in the creation of the scientific practice of pharmacy, devising a new and better way to deliver medicine granules to improve the quality of care for patients. Abbott was an early innovator in physician education as well, supporting a sizable publishing operation.
Dr. Wallace C. Abbott, a practicing physician, begins manufacturing dosimetric granules. Dr. Abbott is one of the founders of modern pharmacy. Dr. Abbott acquires and becomes editor of The Alkaloidal Clinic. The company is officially incorporated as the Abbott Alkaloidal Company. To reach more physicians, Dr. Abbott establishes the companys sales force. Abbott establishes its first European agency in London and branches in New York, San Francisco, Seattle, Toronto and India.
1894 1900 1906 1910
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Growth and Service: 1916 - 1938After the first years of Abbott's success based primarily on alkaloidal medicines, Dr. Alfred S. Burdick, a young medical professor and writer hired in 1904, convinced Dr. Abbott that the future would take a different direction. With the world standing on the threshold of rapid progress in chemistry, Abbott shifted its research focus from alkaloids to synthetic (chemical) medicines, an area positioned for tremendous growth. In 1915, the name of the company changed to reflect the commitment to new areas of research, beyond alkaloids. The newly renamed Abbott Laboratories entered a period of growth characterized by strategic acquisitions and constant scientific pursuit.
Abbott acquires its first synthetic medicine, an antiseptic agent called Chlorazene, which is used extensively on the battlefields of World War I to clean wounds. Dr. Abbott breaks ground for a new facility in North Chicago, Illinois. The site serves as the companys world headquarters for more than 40 years. Abbott develops the synthetic drug Butyn, a local anesthetic, based on butyl alcohol. It marks Abbotts official entrance into the anesthesia market, and butyl alcohol becomes a keystone of Abbott's scientific research in sleep-inducing agent. Abbott stock is listed on the Chicago Stock Exchange with an offering of 20,000 shares at $32 each. Nembutal, a sedative - hypnotic agent and one of Abbott's best-known and longest-lived products, is introduced. Combining an existing sales office and the Canadian operations of the recently acquired Swan Meyer, Co., Abbott establishes its first international affiliate in Montreal, Canada. Abbott introduces Pentothal (thiopental sodium), which will be the most widely used induction anesthetic in the world for more than 50 years. Abbott enters the I.V. business by supplying hospitals with bulk intravenous solutions. This innovation will lead to the induction of two of our scientist in the U.S. Inventors Hall of Fame. Abbott celebrates its 50th anniversary with the dedication of its North Chicago Research Center. UNIVERSITY OF THE PUNJAB (Gujranwala Campus) 6
1929 1930 1931
Progress: 1939 1959In the mid-twentieth century, Abbott rose to a new level scientifically, commercially and as an employer. New programs to benefit employees were created. Research during and after World War II yielded important new products in many therapeutic areas, including antibiotics. Sales and marketing innovation led to great commercial growth, and new operations around the world continued to open.
Health care benefits are extended to employees' dependents. Discovered in Great Britain in 1928, penicillin had tremendous clinical value, but had yet to be produced on a large scale. In 1941, Britain seeks help in starting large-scale production and Abbott accepts the challenge. Within three months Abbott begins commercial production of penicillin, one of the five pioneers in the United States. Abbott introduces Halazone, a water purification tablet shipped by themillions to every fighting front in World War II.
1942 1943 1945
Abbott opens its first facility in Puerto Rico, later to become one of its largest manufacturing operations. Abbott introduces Tridione for treatment of epilepsy, Surbex, a highpotency vitamin, and Venopac, the first fully disposable intravenous administration set. Abbott is the first pharmaceutical company to have a special laboratory for radioactive pharmaceutical