Abbott
Founded in 1888 and headquartered in Abbott Park, Illinois, Abbott Laboratories (NYSE: ABT) is one of the US's top health care products makers. It engages in the discovery, development, manufacture, and sale of health care products worldwide. Diagnostics were once the core of Abbott's product line, including tests for HIV, cancer, pregnancy, and other conditions and diseases. However a string of acquisitions has moved the company into other directions. The company is trying to update its image and expand its pipeline. The company has made a multitude of purchases in the past few years. The company has also forged an alliance with Celera to strengthen its portfolio of molecular diagnostics. To expand its vascular devices business, Abbott Labs acquired the vascular business of Guidant in April 2006. In late 2006, the company acquired Kos Pharmaceuticals to gain access to that company's lipid-management products. Abbott will hang on to the molecular diagnostics business it is building with Celera, and will also keep its diabetes care businesses. Abbott Labs sells its products in more than 130 countries through affiliates and distributors.
Segments
Pharmaceuticals- offers adult and pediatric pharmaceuticals, for the treatment of epilepsy, migraine, and bipolar disorder; rheumatoid arthritis and psoriatic arthritis; hypothyroidism; hypertension; obesity; and HIV infection.
Diagnostics- sells diagnostic systems and tests for blood banks, hospitals, commercial laboratories, physicians’ offices, alternate-care testing sites, and plasma protein therapeutic companies.
Ross- includes pediatric and adult nutritionals, such as Similac infant formula and Ensure nutrition supplements.
International - markets pharmaceutical and adult pediatric nutritional products, as well as consumer products
In the news
07FEB2007 (DowJones) - It's safe to expect a lull in transactions at Abbott Laboratories (ABT) as the company comes off a recent period of major deals, including the pending $8.13 billion sale of its core laboratory diagnostics business to General Electric Co. (GE), an Abbott executive said Wednesday. That sale followed two major deals in 2006. "With all that activity last year, it's fair to say we'll be focused on that" and won't be doing major things "from an M&A perspective", Thomas Freyman, Abbott's chief financial officer, said during a Merrill Lynch conference broadcast on the Web.When asked if there would be a lull in transactions following those deals, Freyman said, "Frankly, the answer is yes."
06FEB2007 (AP) - Diversified health care products maker Abbott Laboratories said Tuesday that it plans to start enrolling the first women-only clinical trial to study the use of drug-coated heart stents by midyear. Abbott plans to track the use of its Xience stent in about 2,000 patients at 100 sites in Europe, Asia-Pacific, Canada and Latin America. The study is aimed at producing specific data on heart disease and how it is diagnosed in women.
11JAN2007 /PRNewswire-FirstCall/ -- A private-label version of Abbott's XIENCE(TM) V Everolimus Eluting Coronary Stent System has launched in Europe, Boston Scientific Corporation announced today. The PROMUS(TM) Everolimus-Eluting Coronary Stent System is designed, studied and manufactured by Abbott and supplied to Boston Scientific as part of a distribution agreement between the two companies announced last year. Abbott secured CE mark and launched the XIENCE V stent system in Europe in October 2006, and it is currently available in most major European and Asia-Pacific markets. The company expects to launch XIENCE V in the U.S. in the first half of 2008.
Top Competitors
Merck–develops drugs treating high cholesterol, hypertension, and heart failure
Roche– operates two segments: pharmaceuticals and diagnostics
Sanofi-Aventis - specializes in allergy, cardiovascular, CNS, oncology, and internal medicine
Sources: Company website, Morningstar.com, Yahoo! Finance, and Hoovers.com