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Company Profile - Abbott Laboratories

100 Abbott Park Rd.
Abbott Park, IL 60064-3500

Phone: 847-937-6100
Fax: 847-937-1511
Website: www.abbott.com
Ticker Symbol: ABT

Key Facts

Abbott developed the first AIDS test in 1985.
The company's hospital products include drug delivery systems and anesthesia used in surgery.
Beginning in 2002, Abbott is dedicating about 125 scientists and engineers towards increasing its presence in the genetic testing market.
Key Financial Facts
2001 revenue: $16,285 million
1-yr growth: 19 percent

Personnel Highlights
Number of employees: 71,426 1-yr growth rate: 18 percent

Company Overview
Abbott Laboratories was founded in 1888 by Dr. Wallace C. Abbott, who began making pills from the active parts of medicinal plants out of his Chicago apartment. The company makes nutritional, pharmaceutical, hospital, diagnostic, and chemical products. Its products include the AIDS protease inhibitor Norvir, the infant formula Similac, the nutritional beverage Ensure, and the macrolide antibiotic Biaxin.

With its purchase in March 2001 of Knoll Pharmaceuticals, Abbott acquired the thyroid treatment Synthroid, as well as a promising rheumatoid arthritis drug, now showing positive therapeutic effects in Phase III testing, that could go blockbuster once it makes its way through the FDA process. Also on the distant horizon are six new antiviral treatments being developed through Abbott’s alliance with Triangle Pharmaceuticals.

In 2002, Abbott’s diagnostics division aligned itself with genomics information company Celera, in a strategy to increase its presence in the genetic testing market. The companies will work on a testing platform for early detection of viral and genetic disease, especially HIV, hepatitis C, and cystic fibrosis.

Major Line of Business : Biotechnology & Pharmaceuticals

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