Abbott began to advertise his products to other doctors in 1891. Abbott was dissatisfied with their quality, and he decided to manufacture his own.ĭr. Alkaloid pills soon became available in Chicago, but Dr. Abbott heard that a Belgian surgeon had developed alkaloids in solid form. Because they existed only in a liquid form, these drugs were prone to spoilage over time, mitigating their effectiveness as treatments. Abbott commonly prescribed morphine, quinine, strychnine, and codeine -all of which were liquid alkaloid extracts -for his patients. Early DecadesĪbbott Laboratories has its origin in the late 19th century in a small pharmaceutical operation run from the kitchen of a Chicago physician named Wallace Calvin Abbott. Abbott ’s annual research and development budget exceeds $1 billion, with areas of emphasis including AIDS/antivirals, anti-infectives, diabetes, neuroscience, oncology, pediatric pharmaceuticals, urology, and vascular medicine. The firm ’s hospital products unit produces electronic and injectable drug-delivery systems, intravenous solutions and supplies, anesthetics, and products used in critical care settings. Abbott is also a top manufacturer of medical diagnostic equipment, with an emphasis on blood analyzers and the detection and monitoring of infections and diseases. While about 30 percent of annual revenues come from the sale of pharmaceuticals -including Abbott ’s flagship drug, the antibiotic Biaxin -the company has a higher profile in the area of nutritionals, where its products include leading infant formula brands Similac and Isomil and a leading adult nutritional brand, Ensure. ![]() ![]() NAIC: 325412 Pharmaceutical Preparation Manufacturing 325413 In-Vitro Diagnostic Substance Manufacturing 334516 Analytical Laboratory Instrument Manufacturing 311514 Dry, Condensed, and Evaporated Dairy Product Manufacturing 541710 Research and Development in the Physical, Engineering, and Life SciencesĪbbott Laboratories is one of the oldest and most successful pharmaceutical companies in the United States. Stock Exchanges: New York Chicago Pacific Boston Cincinnati Philadelphia London Swiss Incorporated: 1900 as Abbott Alkaloidal Company
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