About Abbott Laboratories (ABT)

Company Description:

Abbott Laboratories is a globally recognized healthcare company that provides a broad and diversified line of health care products. Abbott operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices.

Founded by Dr. Wallace Calvin Abbott in 1888, this healthcare pioneer has established its global headquarters in North Chicago, Illinois, United States, where it continues to focus on delivering life-changing technologies that keep your heart healthy, nourish your body at every stage of life, help you feel and move better, and bring you information, medicines, and breakthroughs to manage your health.

Main Product(s):

Abbott Laboratories is known for its diverse range of medical devices, diagnostic tests and instruments, nutritional products for infants, children, and adults, and branded generic pharmaceuticals.

Short History of Abbott Laboratories:

• 1888 – Dr. Wallace C. Abbott founded the company in Chicago, establishing the Abbott Alkaloidal Company.
• 1915 – Abbott expanded its product line and global reach, beginning operations in Canada, the United Kingdom, and Australia.
• 1964 – The company officially changed its name to Abbott Laboratories.
• 1985 – Abbott developed the first-ever HIV blood screening test.
• 2001 – The company spun off its hospital products division as Hospira.
• 2013 – Abbott spun off its research-based pharmaceuticals business, creating a new company, AbbVie Inc.
• 2020 – Abbott played a significant role in the development and distribution of COVID-19 rapid testing solutions.