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Abbott

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Company Research Report: Abbott



Company Overview



  • Name: Abbott Laboratories

  • Mission: Abbott aims to help people live their best lives now and in the future by building life-changing technologies that maintain heart health, nourish bodies, improve mobility, and provide health management solutions through information and medicines.

  • Founded: 1888 by Dr. Wallace C. Abbott, a physician and drug store owner.

  • Key People:

  • Robert B. Ford - Chairman and Chief Executive Officer

  • Hubert L. Allen - Executive Vice President, General Counsel and Secretary

  • Phil Boudreau - Executive Vice President, Finance and Chief Financial Officer

  • Lisa D. Earnhardt - Executive Vice President and Group President, Medical Devices

  • Jared L. Watkin - Executive Vice President, Diabetes Care

  • Headquarters: No specific information available.

  • Number of Employees: 114,000 global employees

  • Revenue: Third-quarter 2024 global sales reached $10.6 billion.

  • Known For: Abbott is renowned for its contributions to diagnostics, medical devices, nutrition, and branded generic pharmaceuticals that enable people to lead healthier lives.


Products



  • Diabetes Care:

  • FreeStyle Libre System:

  • Description: Continuous glucose monitoring system.

  • Features: Provides real-time data, 14-day accuracy without routine fingersticks, integrates with Medtronic devices.


  • Diagnostics:

  • Alinity Series:

  • Description: Family of diagnostics and informatics systems.

  • Features: Focuses on reliability, cost, capacity, and easy use.


  • Neuromodulation:

  • Infinity DBS System:

  • Description: Device for pain management and movement disorders.

  • Features: Precisely targets pain pathways using spinal and brain stimulation.


  • Nutrition:

  • Similac:

  • Description: Popular baby formula.

  • Features: Designed to nourish infants with essential nutrients.


  • Consumer Biowearables:

  • Lingo System:

  • Description: Next-gen health coach biowearable.

  • Features: Tracks and provides insights on glucose, connects lifestyle effects to blood glucose data.


Recent Developments



  • New Products and Technologies:

  • Launch of Lingo, a continuous glucose monitoring system available without prescription.

  • Introduction of the Aveir Dual Chamber DR leadless pacemaker system, recognized as one of TIME magazine’s “Best Inventions of 2023.”

  • Key Partnerships:

  • Partnership with Medtronic to connect Abbott's CGM systems with Medtronic's insulin delivery devices.

  • Collaboration with Seed Global Health to expand healthcare worker training in Malawi.


  • Clinical and Strategic Initiatives:

  • Enrollment completion in the VOLT-AF IDE trial to evaluate the Volt Pulsed Field Ablation System for heart rhythm disorders.

  • Expansion of Pure Bliss™ Line of Infant Formulas to include European-made and organic products.

  • Initiated clinical study of deep brain stimulation systems for managing severe depression.


These actions collectively underscore Abbott's strategy to broaden its healthcare offerings, strengthen global presence, and foster innovations in biowearable tech and critical care solutions.