Abbott Laboratories (ABT) is a global healthcare company that discovers, develops, manufactures, and sells a diversified line of healthcare products. Founded in 1900 and headquartered in Abbott Park, Illinois, the company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices.

Established Pharmaceutical Products: This segment offers branded generic pharmaceuticals primarily in emerging markets outside the United States. Products are sold to wholesalers, distributors, government agencies, healthcare facilities, pharmacies, and retailers.

Diagnostic Products: This segment provides a wide range of diagnostic systems and tests globally, catering to hospitals, laboratories, clinics, physicians, and other healthcare providers. Key offerings include systems for immunoassay, clinical chemistry, hematology, blood screening, molecular diagnostics, point-of-care testing, and rapid diagnostics.

Nutritional Products: This segment offers a broad portfolio of pediatric and adult nutritional products worldwide. These include infant formulas (Similac, EleCare, etc.), adult nutritional products (Ensure, Glucerna), and other specialized formulas for various health needs. Products are sold directly to consumers and institutions, as well as through wholesalers and retailers.

Medical Devices: This segment provides medical devices for cardiovascular diseases, diabetes care, and neuromodulation. Products include pacemakers, stents, heart failure devices, glucose monitoring systems (FreeStyle Libre), and neuromodulation devices for chronic pain and movement disorders.

Abbott faces competition from other healthcare and pharmaceutical companies across its segments. Key competitive factors include technological innovation, product performance, pricing, and regulatory approvals.

• Employees: 114,000 (as of December 31, 2023)
• Geographic Footprint: Operates in over 160 countries
• Headquarters: Abbott Park, Illinois
• Founded: 1900
• Number of Manufacturing Facilities: 90
• Revenue: $40.11 billion (FY2023)
• Market Capitalization: $185.17 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Similac, Ensure, Glucerna, FreeStyle Libre, MitraClip, XIENCE

• CEO and Chairman: Robert B. Ford
• CFO: Robert E. Funck, Jr.
• Other Key Executives (as of February 16, 2024):
  • Hubert L. Allen (Executive Vice President, General Counsel and Secretary)
  • Lisa D. Earnhardt (Executive Vice President and Group President, Medical Devices)
  • Mary K. Moreland (Executive Vice President, Human Resources)
  • Louis H. Morrone (Executive Vice President, Core Diagnostics)
  • Daniel Salvadori (Executive Vice President and Group President, Established Pharmaceuticals and Nutritional Products)
  • Andrea Wainer (Executive Vice President, Rapid and Molecular Diagnostics)
  • Philip P. Boudreau (Senior Vice President, Finance and Chief Financial Officer)
  • John A. McCoy, Jr. (Vice President, Finance and Controller)

• Annual Revenue: $40.11 billion (FY2023)
• Net Income: $5.72 billion (FY2023)
• Market Cap: $185.17 billion (as of June 30, 2023)
• Total Assets: $73.21 billion (FY2023)
• Key Financial Highlights (FY2023):
  • Sales decreased 8.1% compared to FY2022, primarily due to lower demand for COVID-19 tests.
  • Excluding COVID-19 testing-related sales, total net sales increased 9.2%.
  • Sales in emerging markets, excluding foreign exchange impact, increased 5.4%.

Abbott's product portfolio spans a wide range of healthcare categories:

• Branded Generic Pharmaceuticals: Includes a variety of therapeutic areas such as gastroenterology, women's health, cardiovascular and metabolic, pain and central nervous system, and respiratory drugs and vaccines.
• Diagnostic Systems and Tests: Offers systems for core laboratory testing, molecular diagnostics, point-of-care testing, rapid diagnostics, blood screening, and informatics solutions.
• Nutritional Products: Includes infant formulas, adult nutritional drinks, and specialized formulas for various health needs.
• Medical Devices: Encompasses rhythm management devices, electrophysiology products, heart failure devices, vascular products, structural heart products, continuous glucose monitoring systems, and neuromodulation devices.

Abbott operates through four reportable segments:

• Established Pharmaceutical Products: FY2023 Revenue: $5.07 billion
• Nutritional Products: FY2023 Revenue: $8.15 billion
• Diagnostic Products: FY2023 Revenue: $10 billion
• Medical Devices: FY2023 Revenue: $16.89 billion

Abbott's business strategy focuses on:

• Investing in research and development: The company aims to develop new products and expand indications for existing products across its portfolio.
• Geographic expansion: Abbott continues to focus on growth in emerging markets, particularly for its established pharmaceuticals and nutritional products.
• Strategic acquisitions: Abbott pursues acquisitions to enhance its product portfolio and expand into new areas of healthcare, as evidenced by the recent acquisitions of Bigfoot Biomedical and Cardiovascular Systems, Inc.
• Focus on key growth platforms: Abbott prioritizes investment in areas with high growth potential, such as its Alinity diagnostics platform and FreeStyle Libre continuous glucose monitoring system.

Abbott operates in the highly competitive global healthcare industry. The company faces competition from various multinational pharmaceutical and medical device companies. Key industry trends include cost containment efforts by governments and private payers, increasing regulatory scrutiny, and rapid technological advancements. Abbott holds a leading market position in several of its key product categories, including continuous glucose monitoring and certain cardiovascular devices.

• Supply Chain Disruptions: Abbott's global supply chain is complex and susceptible to disruptions from various factors, including geopolitical events, natural disasters, and pandemics.
• Cybersecurity Threats: Abbott relies heavily on information systems and technology, making it vulnerable to cybersecurity incidents that could compromise sensitive data and disrupt operations.
• Product Development Risks: Research and development efforts are inherently risky and may not always result in commercially successful products.
• Regulatory and Legal Compliance: Abbott's products are subject to extensive regulations, and non-compliance could lead to financial penalties and reputational damage.
• Cost Containment Efforts: Government and private payers are increasingly focused on cost containment, which could put pressure on Abbott's pricing and profitability.