Business & Citizenship
- We focus our research and development in three high-growth areas of care: medical devices and diagnostics, nutritional products and pharmaceuticals. Our products span the spectrum of care, from prevention and diagnosis to disease management and treatment.
About Abbott
Every day, thousands of Abbott employees work to provide hope, improving the lives of millions of people around the world. We are a global, broad-based health care company, with scientific expertise and products that span the human life cycle and the continuum of care, from prevention and diagnosis to treatment and cure.
A Century of Ingenuity
In 1888, physician Wallace Calvin Abbott founded the company. Dissatisfied with existing processes for making medicines, he thought there was a better way to make treatments more precise and predictable. Dr. Abbott was part of a pioneering generation of scientists, doctors and pharmacists who created modern medicine. His vision and spirit continue to this day.
Today, through its four businesses, Abbott discovers, develops, manufactures and markets pharmaceuticals, medical products and nutritional products. Our businesses lead and compete in rapidly growing markets where medical innovation wins. As we enter our 120th year, we are poised to serve the next generation of patients and create breakthrough medical technologies.
Global Growth
We deliver results for patients, physicians, employees and shareholders. In 2007, we achieved record sales of $25.9 billion and net profits of $3.6 billion. Our operating cash flows were $5.2 billion. Our financial success allows us to continually invest, innovate and introduce products, which are changing the practice of medicine. More than half of our sales came from international markets, with strong performance in the emerging markets of China, India, Russia and Latin America. Our success has created economic benefits for other stakeholders around the world: We spent approximately $12 billion with suppliers, paid $952 million in income taxes, paid $6.9 billion to employees and reinvested $2.5 billion in the business or returned to investors. We also contributed more than $385 million in grants and products from Abbott and the Abbott Fund.
We have declared 336 consecutive quarterly dividends to shareholders since 1924. In 2007 our stock outperformed the S&P 500 and S&P Health Index. Complete financial information about Abbott and a list of our products are available at www.abbottinvestor.com.
Global Presence
Abbott is headquartered in north suburban Chicago, Illinois. We serve customers in more than 130 countries, with a staff of 68,000 employees at more than 100 research and development, manufacturing, and distribution locations.
Improving Global Health
Our work concerns diseases that place the greatest burden on society, including cardiovascular disease, cancer, diabetes and immune system diseases, including HIV/AIDS. Our diversity enables Abbott to make a unique and powerful contribution to global health. We combat single diseases on many fronts. For example, scientists across our pharmaceutical, medical device and nutrition businesses are developing multiple approaches to prevent, diagnose, treat and manage heart disease.
Our values inspire us to explore new ways to ensure that patients have access to our products and benefit from our knowledge. By working with others who share our commitment, we are finding better ways to help people in need overcome barriers and get the health care they need. This is ingenuity at work.
