Abbott Laboratories Statistics and Facts by Nutri-health Products

Company Overview

Abbott Laboratories Statistics: Abbott Laboratories is a global healthcare company committed to enhancing quality of life by developing, manufacturing, and marketing a diverse range of health solutions that support people at every age. The company’s operations are structured into four key business segments—Diagnostic Products, Established Pharmaceutical Products, Medical Devices, and Nutritional Products.

The Established Pharmaceutical Products segment focuses on international sales of branded generic medicines that address a broad spectrum of therapeutic areas, helping expand healthcare access in emerging and developed markets. The Nutritional Products segment delivers comprehensive nutritional solutions for both adults and children, providing clinically designed formulas to support growth, recovery, and overall wellness.

The Diagnostic Products segment encompasses advanced core laboratory, molecular, point-of-care, and rapid testing technologies, enabling hospitals, laboratories, and healthcare providers to make faster and more accurate decisions. The Medical Devices segment includes innovative technologies for cardiac rhythm management, electrophysiology, heart failure, vascular and structural heart conditions, neuromodulation, and diabetes management, improving patient outcomes through precision-driven devices.

Abbott’s global operations span over 150 countries, with a strong presence across Asia Pacific (India, Japan, Singapore, Australia), Greater China, and Europe (France, Germany, the United Kingdom, Italy, among others).

As of December 31, 2024, Abbott employed approximately 114,000 people worldwide, with about 69% of its workforce located outside the United States. Women made up 47% of the U.S. workforce, 46% of the global workforce, and 43% of managerial roles, underscoring the company’s ongoing commitment to diversity and inclusion. As of January 31, 2025, Abbott had approximately 30,768 registered shareholders holding its common stock.

History of Abbott Laboratories

1800’s

1888: Dr Wallace C. Abbott, a 30-year-old physician, begins producing “alkaloidal” medicine granules from plants and herbs at his People’s Drug Store in Chicago. His first-year sales reach $2,000.
1894: The business is incorporated as the Abbott Alkaloidal Company, expanding into both medical publishing and pharmaceutical manufacturing.

1900’s

1907: Abbott begins international expansion by opening its first overseas office in London, England.
1916: The company manufactures its first synthetic medicine, Chlorazene, developed by Dr Henry Dakin as a disinfectant for soldiers during World War I.
1922: Abbott scientists Dr Ernest Volwiler and Dr Roger Adams develop Butyn, the company’s first breakthrough anesthetic.
1929: Abbott becomes a publicly traded company through an initial public offering, which coincides with the stock market crash, but grows in value by roughly 10,000 times over time.
1932: Even amid the Great Depression, Abbott expands into vitamins and intravenous solutions, earning recognition for its financial stability and innovation.
1935: The company introduces Pentothal, which becomes the world’s leading anesthetic and earns its inventors induction into the U.S. National Inventors Hall of Fame.
1942: Abbott collaborates with the U.S. Government and other pharmaceutical firms to mass-produce penicillin, boosting wartime output by more than 20,000%.
1959: The iconic Abbott “A” logo is adopted, establishing the foundation of its enduring visual identity.
1960: Under President George Cain, Abbott undergoes a major transformation later profiled in Good to Great, as one of only 11 firms—out of 1,435—recognized for exceptional long-term performance.
1964: Abbott acquires M&R Dietetics, maker of Similac, positioning itself as a leader in infant and adult nutrition.
1972: The company launches the ABA-100 blood analyzer and Ausria, a pioneering hepatitis test, marking the start of its modern diagnostics business.
1985: Abbott develops the first FDA-approved HIV blood-screening test, a milestone achievement in global public health.
1998: Introduction of Glucerna, a nutritional line tailored for people with diabetes and specific dietary needs.

2000’s

2002: FDA approves Humira, the first fully human monoclonal antibody, which later becomes the world’s top-selling pharmaceutical product.
2006: Launch of the Xience V drug-eluting stent, which quickly becomes a global market leader in cardiovascular treatment.
2010: Abbott becomes the largest pharmaceutical company in India, reflecting its expanding global footprint.
2013: Abbott spins off its proprietary pharmaceutical division as AbbVie, reshaping itself into a global consumer-focused healthcare company.
2014: The company redefines its brand with the campaign “Life. To The Fullest.” and becomes the sponsor of the Abbott World Marathon Majors.
2014: Abbott transforms diabetes management with the launch of FreeStyle Libre, a continuous glucose monitor that eliminates routine fingersticks.
2016: The Alinity diagnostics and informatics systems debut, setting new benchmarks for efficiency and precision in clinical laboratories.
2017: Abbott acquires St. Jude Medical, expanding its presence in cardiovascular and neuromodulation technologies, securing top positions in major global markets.
2017: The acquisition of Alere Inc. strengthens Abbott’s leadership in point-of-care diagnostics, making it No. 1 in rapid testing for cardiometabolic and infectious diseases.
2020: In response to the COVID-19 pandemic, Abbott launches multiple high-throughput and rapid diagnostic tests worldwide, ensuring continuity of care and global health support through its medical devices, diagnostics, and nutrition businesses.

(Source: Company Website)

Financial Analysis

In 2022, Abbott recorded revenue of $43,653 million, driven by exceptional demand for COVID-19 diagnostics and strong contributions from its core business lines. This year’s performance set a challenging benchmark for subsequent periods.
In 2023, revenue declined to $40,109 million, largely due to a sharp fall in COVID-19 testing-related sales from $8.4 billion in 2022 to $1.6 billion. However, the downturn was partially mitigated by healthy growth in the Medical Devices and Nutritional Products. Emerging markets maintained steady momentum, reporting a 5.4% increase, excluding foreign exchange impact.
In 2024, Abbott achieved a modest rebound with revenue rising to $41,950 million, supported by robust performances across Medical Devices, Established Pharmaceuticals, and Nutritional Products. The growth was propelled by a strong R&D pipeline, new product introductions, and expanded indications. COVID-19 testing sales continued to taper off, totaling $747 million as the pandemic evolved into an endemic phase. Emerging markets posted a stronger 2% gain, reinforcing Abbott’s international growth.
Operating margins improved slightly to 3% in 2024 from 16.2% in 2023, reflecting the impact of cost optimization efforts and productivity initiatives. Comparatively, the 2022 margin of 19.2% was higher due to a favourable pandemic-driven product mix. The margin erosion from 2022 to 2023 was primarily linked to the steep decline in high-margin COVID-related sales, inflationary pressures, and adverse currency movements.