Abbott Laboratories is a US-based healthcare group specialising in nutrition, medical products, diagnostics and generics. It is the world leader in infant and clinical nutrition with brands such as Ensure and Similac, and among the leader in diabetes care with products such as FreeStyle blood glucose monitors. The acquisition of Indian manufacturer Piramal in 2010 put the group among the world's biggest manufacturers of generic pharmaceuticals. However several other divisions have been sold, of which the biggest by far was its proprietary pharma division, spun off to shareholders in 2013 as AbbVie.
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|Similac||Abbott Diabetes Care|
Recent stories from Adbrands Weekly Update:
Adbrands Weekly Update 22nd Sep 2016: Johnson & Johnson is to expand its already extensive eyecare business with the acquisition of Abbott Laboratories' Medical Optics division, which makes lasers and other equipment used to treat cataracts and correct vision. The deal price is $4.3bn, around four times the Abbott unit's revenues last year. J&J plans to combine the business with its existing vision business, which includes Acuevue contact lenses.
Adbrands Weekly Update 17th Jul 2014: Abbott Laboratories agreed to sell its substantial generic pharmaceutical business in developed markets to rival Mylan for $5.3bn in shares. Abbott retains its somewhat larger generic business in developing markets, and will end up with a stake of around 21% in the enlarged Mylan, already the global #3 in off-patent drugs behind Teva and Novartis. Like AbbVie, US-based Mylan wants to take advantage of the tax inversion loophole in US law before its likely closure. As part of the deal, Mylan will move its corporate HQ to the Netherlands.
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