Abbott Global

More than a century ago, 30-year-old Dr. Wallace C. Abbott, a practicing physician and drug store proprietor, founded the Abbott Alkaloidal Company. Using the active - or alkaloid - part of a medicinal plant, he formed tiny pills, called “dosimetric granules,” which provided a more accurate and effective dosing for his patients than other treatments available at the time. The demand for these accurate granules soon far exceeded the needs of his own practice and from these modest origins was born Abbott, one of the world’s most broad-based health care companies and a leader in the discovery, development and manufacture of products that span the continuum of care.

Abbott trademarks and products in-licensed by Abbott are shown in italics.

Founding and Modern Science

From the very beginning, Dr. Abbott and the company’s early founders championed scientific investigation to benefit patients. With alkaloidal medicine, Abbott’s founders were pioneers in the creation of the scientific practice of pharmacy, devising a new and better way to deliver medicine granules to improve the quality of care for patients. Abbott was an early innovator in physician education as well, supporting a sizable publishing operation.

1888	Dr. Wallace C. Abbott, a practicing physician, begins manufacturing dosimetric granules. Dr. Abbott is one of the founders of modern pharmacy.
1894	Dr. Abbott acquires and becomes editor of The Alkaloidal Clinic.
1900	The company is officially incorporated as the Abbott Alkaloidal Company.
1906	To reach more physicians, Dr. Abbott establishes the company’s sales force.
1910	Abbott establishes its first European agency in London and branches in New York, San Francisco, Seattle, Toronto and India.

Growth and Service

After the first years of Abbott's success based primarily on alkaloidal medicines, Dr. Alfred S. Burdick, a young medical professor and writer hired in 1904, convinced Dr. Abbott that the future would take a different direction. With the world standing on the threshold of rapid progress in chemistry, Abbott shifted its research focus from alkaloids to synthetic (chemical) medicines, an area positioned for tremendous growth. In 1915, the name of the company changed to reflect the commitment to new areas of research, beyond alkaloids. The newly renamed Abbott Laboratories entered a period of growth characterized by war, strategic acquisitions and constant scientific pursuit.

1916	Abbott acquires its first synthetic medicine, an antiseptic agent called Chlorazene, which is used extensively on the battlefields of World War I to clean wounds.
1920	Dr. Abbott breaks ground for a new facility in North Chicago, Illinois. The site serves as the company’s world headquarters for more than 40 years.
1923	Abbott develops the synthetic drug Butyn, a local anesthetic, based on butyl alcohol. It marks Abbott’s official entrance into the anesthesia market, and butyl alcohol becomes a keystone of Abbott's scientific research in sleep-inducing agents.
1929	Abbott stock is listed on the Chicago Stock Exchange with an offering of 20,000 shares at $32 each.
1930	Nembutal, a sedative - hypnotic agent and one of Abbott's best-known and longest-lived products, is introduced.
1931	Combining an existing sales office and the Canadian operations of the recently acquired Swan Meyer, Co., Abbott establishes its first international affiliate in Montreal, Canada.
1936	Abbott introduces Pentothal (thiopental sodium), which will be the most widely used induction anesthetic in the world for more than 50 years. Abbott enters the I.V. business by supplying hospitals with bulk intravenous solutions. This innovation will lead to the induction of two of our scientist in the U.S. Inventors Hall of Fame.
1938	Abbott celebrates its 50^th anniversary with the dedication of its North Chicago Research Center.

Progress

In the mid-twentieth century, Abbott rose to a new level scientifically, commercially and as an employer. New programs to benefit employees were created. Research during and after World War II yielded important new products in many therapeutic areas, including antibiotics. Sales and marketing innovation led to great commercial growth, and new operations around the world continued to open.

1939	Health care benefits are extended to employees' dependents.
1941	Discovered in Great Britain in 1928, penicillin had tremendous clinical value, but had yet to be produced on a large scale. In 1941, Britain seeks help in starting large-scale production and Abbott accepts the challenge. Within three months Abbott begins commercial production of penicillin, one of the five pioneers in the United States.
1942	Abbott introduces Halazone, a water purification tablet shipped by the millions to every fighting front in World War II.
1943	Abbott opens its first facility in Puerto Rico, later to become one of its largest manufacturing operations.
1945	Abbott introduces Tridione for treatment of epilepsy, Surbex, a high-potency vitamin, and Venopac, the first fully disposable intravenous administration set.
1946	Abbott is the first pharmaceutical company to have a special laboratory for radioactive pharmaceuticals, or "radiopharmaceuticals," a move that leads to the creation of what will become the world’s leading immunodiagnostics business.
1947	Abbott introduces Aminosol, a new protein solution for intravenous feeding of surgical patients. Abbott develops the Abbott Sanitary Counting Tray.
1949	Abbott introduces 74 new products in a single year, including pharmaceuticals, medical devices, and improved variations of existing products.
1950	Raymond E. Horn steps down as president because of illness. His successor is Dr. Ernest Volwiler, the first president since Dr. Burdick with a scientific background. Abbott introduces Sucaryl, its first truly consumer product, opens a registered entity in France, and enters into business in Spain.
1951	Abbott introduces Selsun Suspension shampoo for dandruff control. The company establishes an employee contributory stock purchase plan.
1952	Abbott introduces Erythrocin, a new antibiotic with good activity against gram-positive bacteria.
1953	Abbott's radiopharmaceutical business introduces Radiocaps, capsules containing an accurately controlled, invisible and un-weighable film of radioiodine that simplifies the diagnosis and treatment of thyroid disorders.
1959	Abbott introduces a new logo, which features a stylized “a” symbol that is still in use today.

Expansion to Specialization

The second half of the 20th century is one of continued growth. Abbott moved into a variety of businesses, including several that it would exit, such as sweeteners, eye drops and golf equipment. By the 1980s, several businesses were divested as Abbott began to narrow its focus where its expertise best aligned with patient needs.

1962	Abbott enters a joint venture with Dainippon Pharmaceuticals Co., Ltd., of Japan to manufacture radiopharmaceuticals. This venture will become Dainabot, and eventually evolve into Abbott Japan, the company’s largest operation outside the United States.
1963	The Triosorb diagnostic test kit, even simpler than the Radiocaps introduced ten years earlier, no longer requires a patient to swallow a radioactive substance; rather, a blood sample is inoculated with a radioactive form of thyroid hormone.
1964	Abbott acquires M&R Dietetic Laboratories of Columbus, Ohio, best known as makers of Similac infant formula, one of the first milk-based infant formulas. M&R eventually becomes Abbott’s Ross Products Division.
1965	Abbott’s growth warrants expansion at its headquarters location, and the company begins to move some operations to Abbott Park, a 420-acre site southwest of its North Chicago operations.
1972	Abbott introduces Tranxene, a tranquilizer, Ausria, a radioimmunoassay test to detect serum hepatitis, and the ABA-100 blood chemistry analyzer.
1973	Abbott forms a diagnostics division to bring together all diagnostic products and services. The company also introduces Ensure, the first adult medical nutritional.
1977	TAP Pharmaceuticals, now known as TAP Pharmaceutical Products Inc., is formed as a joint venture between Abbott and Takeda Chemical Industries, Ltd. of Japan.
1981	Abbott introduces the TDx therapeutic drug monitoring system.
1983	Depakote (divalproex sodium) is approved in the United States.
1985	Abbott wins U.S. approval to market the world’s first diagnostic test for AIDS. Abbott also launches ADD-Vantage, an intravenous drug delivery system, and TAP receives its first product approval for Lupron (leuprolide acetate).
1987	Hytrin (terazosin hydrochloride) receives U.S. FDA approval.
1988	Abbott celebrates its centennial. The IMx diagnostic instrument, used in medium-sized laboratories, is introduced and will become the world’s leading immunoassay system and one of the best-selling new products in Abbott’s history.

Specialization

By the end of the twentieth century, Abbott further refined its focus, delivering both scientific and financial results. New, more specialized products were introduced in many divisions, some developed in-house and some brought from the outside. Abbott continued to divest other products so that it could concentrate on what it has always done best: create quality health care products for people in every stage of life.

1990	Clarithromycin launched. Clarithromycin is known as Biaxin in the United States and Klacid and Klaricid in countries around the world.
1991	Several major products are introduced worldwide, including Survanta (beractant) and a prostate-specific antigen (PSA) test to screen and monitor therapy for prostate cancer. Abbott enters the hematology testing market with the acquisition of Sequoia-Turner Corp.
1993	Abbott launches AxSYM, a new labor-saving diagnostic system.
1994	Abbott introduces sevoflurane, and completes an agreement to cross-license LCR and PCR, two gene amplification technologies.
1995	TAP receives approval for PREVACID (lansoprazole). In diagnostics, ABBOTT PRISM, the first, fully automated high-volume blood analyzer is introduced. Today, the ABBOTT PRISM is used to screen the majority of the world’s donated blood supply.
1996	Abbott launches Norvir (ritonavir). The company enters the glucose testing market with the acquisition of MediSense, Inc.
1997	After extensive research, Abbott’s Ross Products Division launches an improved version of Similac called Similac Advance.
1998	Abbott launches Glucerna shakes and snack bars, specially formulated nutritional products for people with diabetes. The U.S. FDA approves several major products including TriCor (fenofibrate) and Zemplar (paricalcitol).

Transformation

In recent years, Abbott has adapted to the rapidly changing and intensely competitive health care environment of the twenty-first century. As we’ve added new businesses and reorganized, we’ve kept our focus where it has always been – on the patient.

1999	Abbott launches ARCHITECT, a next-generation diagnostic system. Abbott acquires Perclose, Inc., the leading arterial closure device manufacturer, which provides the foundation for building its vascular business. Later that year, the FDA approves The Closer, a next generation vascular closure device.
2000	Abbott receives approval for several new drugs and line extensions, including Kaletra (lopinavir/ritonavir), Biaxin XL (clarithromycin extended-release tablets), and Depakote ER (divalproex extended-release tablets). Abbott introduces an innovative award-winning, 32-ounce, reclosable plastic bottle for Similac with Iron.
2001	Abbott acquires the pharmaceutical business of BASF AG, including the global operations of Knoll Pharmaceuticals. In addition, Abbott acquires Vysis, Inc., and receives clearance to market the Vysis UroVysion test to monitor for recurrent bladder cancer.
2002	Abbott receives FDA approval for Humira (adalimumab). The company launches Similac Advance, Isomil Advance and NeoSure Advance infant formulas in the United States. Abbott acquires the cardiovascular stent business of Biocompatibles International plc., as it works to build its vascular business.
2003	Abbott launches HUMIRA in Europe. The company launches three new immunodiagnostics systems for use on the ARCHITECT platform. Abbott also continues to build its medical products business through several strategic acquisitions: JOMED's coronary and peripheral intervention business lines and Integrated Vascular Systems Inc.; Spinal Concepts Inc., an innovator of spinal implant devices; and ZonePerfect Nutritional Co., which signals Abbott's entrance into the fast-growing healthy living category of the nutrition market.
2004	Abbott acquires TheraSense Inc., a leading blood glucose monitoring business, to complement its fast-growing diabetes care business. The company also enters the point of care diagnostics market with the acquisition of i-STAT Corp.; adds to its healthy living nutrition offerings with the acquisition of EAS Inc., and firmly establishes its presence in the spinal device market with the acquisition of Spine Next S.A. Abbott also spins off its hospital products business as Hospira, an independent, publicly traded company. Hospira is one of the largest global specialty pharmaceutical and medication delivery companies serving the hospital.
2005	Abbott introduces several medical devices including the Xact carotid stent with the Emboshield capture device; the FreeStyle Connect blood glucose monitor; and, in the United States, launches the ABBOTT PRISM blood screening system and the CELL-DYN Sapphire hematology system. The company also receives FDA approval for two new uses for HUMIRA. Abbott also makes changes to its Kaletra product.
2006	Abbott acquires Guidant's vascular business, which, combined with Abbott's ongoing business, creates one of the leading global vascular device companies. Abbott acquires Kos Pharamaceuticals, greatly expanding its presence in cardiovascular medicine including lipid management.

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