Organization: Abbott's core businesses focus on pharmaceuticals, medical devices and nutritional products, which have been supplemented through several notable acquisitions. It has also divested itself of less profitable businesses through sales and spinoffs.

In 2001, Abbott acquired Knoll, the pharmaceutical division of BASF.

In 2004, Abbott spun off its hospital products division into a new 14,000 employee company named Hospira, and acquired TheraSense, a diabetes care company, which it merged with its MediSense division to become Abbott Diabetes Care. In 2006, Abbott assisted Boston Scientific in its purchase of Guidant Corporation. As part of the agreement, Abbott purchased the vascular device division of Guidant.

In January 2007, Abbott Laboratories agreed to sell its in vitro diagnostics and Point-of-Care diagnostics divisions to General Electric for more than $8 billion. These units were slated to be integrated into the GE Healthcare business unit. The transaction was approved by the Boards of Directors of Abbott and GE and was targeted to close in the first half of 2007. However, on July 11th, 2007, Abbott announced that it had terminated its agreement with GE because both parties could not agree on terms of the deal. ^[1]

On September 8th, 2007, Abbott completed the sale of the UK manufacturing plant at Queenborough to Aesica Pharmaceuticals, a Private equity-owned UK manufacturer. No announcements have been made restricting the movement of staff to Abbott unlike other sell outs.

History:  In 1888 at the age of 30, Dr. Wallace C. Abbott founded the Abbott Alkaloidal Company. At the time he was a practicing physician and owned a drug store. His innovation was the use of the active - or alkaloid - part of a medicinal plant that he formed into tiny pills which he called “dosimetric granules.” This was successful since it allowed more consisitent and effective dosages for patients.

Products: 

Some of the key products produced by Abbott Laboratories, circa 2006, include:

Pharmaceuticals

• Snfant milk powder Lactose free)
• Biaxin/Klaimilac-LF (Icid (clarithromycin)
• Depacon (valproic acid)
• Depakote (valproate semisodium)
• Freestyle Freedom blood glucose monitor
• Freestyle Flash blood glucose monitor
• Gengraf (cyclosporin)
• Gopten/Mavik (trandolapril)
• Humira (adalimumab)
• Isoptin (verapamil)
• Hytrin (terazosin)
• Kaletra (lopinavir/ritonavir)
• Meridia/Reductil (sibutramine)
• Norvir (ritonavir)
• Omnicef (cefdinir)
• Synthroid (levothyroxine)
• Tarka (trandolapril/verapamil)
• Tricor (fenofibrate)
• Ultane (sevoflurane)
• Niaspan
• Azmacort

Abbott Diagnostics

Abbott manufactures fully automated random access automated analyzers utilized by medical technologists in medical laboratories. Abbott also provides client support for these instruments.