Sign in

    Abbott Laboratories (ABT)

    You might also like

    Business Description

    Abbott Laboratories is a global healthcare company that operates in various segments, providing a wide range of products and services. The company focuses on branded generic pharmaceuticals, diagnostic systems and tests, nutritional products, and medical devices, catering to both international and domestic markets . Abbott's diversified portfolio includes significant contributions from emerging markets and innovations in medical devices, allowing it to maintain a balanced revenue stream across its segments .

    1. Medical Devices - Offers products in rhythm management, electrophysiology, heart failure, vascular, structural heart, neuromodulation, and diabetes care, with the FreeStyle Libre system being a major growth driver .
    2. Established Pharmaceutical Products - Focuses on branded generic pharmaceuticals primarily sold in emerging markets, significantly contributing to international sales .
    3. Diagnostic Products - Includes a broad line of diagnostic systems and tests, with notable sales from COVID-19 testing, although this has decreased as the pandemic shifted to an endemic state .
    4. Nutritional Products - Encompasses both pediatric and adult nutrition, with products like Ensure and Glucerna leading growth, particularly in the U.S. market .

    Key Metrics

    View all financials →
    Revenue by Segment - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Established Pharmaceutical1,3681,2225,0661,2261,2941,4061,2685,194
    - Key Emerging Markets-------3,858
    - Other-------1,336
    Nutritional Products2,0732,0388,1542,0682,1502,0662,1298,413
    - Pediatric Nutritionals1,0019853,9341,0091,0599551,4,023
    - Adult Nutritionals1,0721,0534,2201,0591,0911,1111,1294,390
    Diagnostic Products2,4492,5349,9882,2142,1952,4122,529,341
    - Core Laboratory1,3141,375,1591,2051,3291,3141,3875,235
    - Molecular133153574129127128137521
    - Point of Care140149565139156146147588
    - Rapid Diagnostics8628623,6907415838248492,997
    Medical Devices4,2494,44316,8874,4534,7344,7475,05218,986
    Cardiovascular and Neuromodulation--------
    - Rhythm Management5635822,2555626075976242,390
    - Electrophysiology5445932,1955876276106432,467
    - Heart Failure2843011,1613053213223311,279
    - Vascular6726772,6816897246997252,837
    - Structural Heart4874981,9445155645586092,246
    - Neuromodulation22724890226243236257962
    - Diabetes Care1,4721,5525,7611,5691,6481,7251,8636,805
    Other4--344516
    Total Revenue10,14310,24140,1099,96410,37710,63510,97441,950
    Revenue by Geography - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    United States3,8173,94915,4523,8463,9344,2024,34116,323
    - Germany--2,345----2,539
    - China--2,253----2,113
    - India--1,750----1,817
    - Switzerland--1,638----1,747
    - Japan--1,513----1,441
    - Netherlands--1,074----1,124
    - All Other Countries--14,084----14,846
    International6,326--6,1186,4436,4336,63325,627
    Total Revenue10,14310,24140,1099,96410,37710,63510,97441,950
    KPIs - Metric (Unit, Scale)FY 2013 (%)Q1 2014 (%)Q2 2014 (%)Q3 2014 (%)Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020 (%)Q1 2021Q2 2021Q3 2021Q4 2021FY 2021 (%)Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Established Pharmaceutical Products Growth Excluding Foreign Exchange for Q3 2024 (percentage)10.0-10.915.4----
    Nutritional Products Growth Excluding Foreign Exchange for Q3 2024 (percentage)11.2-11.67.77.45.8--
    Diagnostic Products Growth Excluding Foreign Exchange for Q3 2024 (percentage)----15.5----
    Medical Devices Growth Excluding Foreign Exchange for Q3 2024 (percentage)14.6-15.115.413.813.6--
    Total International Net Sales Growth Excluding Foreign Exchange for Q3 2024 (percentage)--------
    Total Net Sales Growth Excluding Foreign Exchange for First Nine Months 2024 (percentage)-----5.8%--
    Established Pharmaceutical Products Growth Excluding Foreign Exchange for First Nine Months 2024 (percentage)10.0--15.415.415.4--
    Nutritional Products Growth Excluding Foreign Exchange for First Nine Months 2024 (percentage)11.2%----5.8%--
    Diagnostic Products Growth Excluding Foreign Exchange for First Nine Months 2024 (percentage)-42.1%---15.5%-9.0%-5.6%--
    Medical Devices Growth Excluding Foreign Exchange for First Nine Months 2024 (percentage)14.6-15.115.413.813.6--
    Total U.S. Net Sales Growth Excluding Foreign Exchange for First Nine Months 2024 (percentage)-----5.8--
    Total International Net Sales Growth Excluding Foreign Exchange for First Nine Months 2024 (percentage)11.2%--7.7%7.4%5.8%--
    Key Emerging Markets Established Pharmaceutical Growth Excluding Foreign Exchange (percentage)10.0%-10.3%15.4%----
    Other Emerging Markets Established Pharmaceutical Growth Excluding Foreign Exchange (percentage)17.1-12.88.2----
    International Pediatric Nutritionals Growth Excluding Foreign Exchange (percentage)2.9-5.28.93.7-3.6--
    U.S. Pediatric Nutritionals Growth Excluding Foreign Exchange (percentage)32.8-26.612.011.611.8--
    International Adult Nutritionals Growth Excluding Foreign Exchange (percentage)7.9-10.46.410.59.7--
    U.S. Adult Nutritionals Growth Excluding Foreign Exchange (percentage)6.4-5.83.00.83.2--
    Core Laboratory Diagnostic Products Growth Excluding Foreign Exchange (percentage)8.1%-8.4%5.9%7.3%6.3%--
    Molecular Diagnostic Products Growth Excluding Foreign Exchange (percentage)-47.5--41.6-11.7-10.5-7.9--
    Point of Care Diagnostic Products Growth Excluding Foreign Exchange (percentage)--7.73.6----
    Rapid Diagnostics Growth Excluding Foreign Exchange (percentage)-65.6%--62.9%-38.7%-31.6%-22.9%--
    Rhythm Management Growth Excluding Foreign Exchange (percentage)--7.57.5----
    Electrophysiology Growth Excluding Foreign Exchange (percentage)14.1-15.918.4----
    Heart Failure Growth Excluding Foreign Exchange (percentage)--12.08.4----
    Vascular Growth Excluding Foreign Exchange (percentage)8.8-9.312.7----
    Structural Heart Growth Excluding Foreign Exchange (percentage)15.3-14.313.0----
    Neuromodulation Growth Excluding Foreign Exchange (percentage)15.5-16.417.413.8---
    Diabetes Care Growth Excluding Foreign Exchange (percentage)26.2-25.520.721.821.4--
    Continuous Glucose Monitoring Systems Growth Excluding Foreign Exchange (percentage)26.2%-25.5%23.3%21.8%21.4%--
    Remaining Performance Obligations in Diagnostics (USD billions)4.2--4.54.85.3--
    Remaining Performance Obligations in Medical Devices (USD millions)456--495493466--

    Leadership

    NamePositionExternal RolesShort Bio

    Robert B. Ford

    ExecutiveBoard

    Chairman of the Board and Chief Executive Officer

    N/A

    Robert B. Ford has been with Abbott since 2008, serving in various leadership roles. He became CEO in 2020 and Chairman in 2021.

    		View Report →

    Andrea Wainer

    Executive

    Executive Vice President, Rapid and Molecular Diagnostics

    N/A

    Andrea Wainer has been with Abbott since 2015, leading the Rapid and Molecular Diagnostics division.

    Daniel G. Salvadori

    Executive

    Executive Vice President and Group President, Established Pharmaceuticals and Nutritional Products

    N/A

    Daniel G. Salvadori has been with Abbott since 2014, serving in leadership roles in Nutritional Products and Pharmaceuticals.

    Hubert L. Allen

    Executive

    Executive Vice President, General Counsel, and Secretary

    N/A

    Hubert L. Allen joined Abbott in 2012 and has been EVP, General Counsel, and Secretary since 2013.

    Lisa D. Earnhardt

    Executive

    Executive Vice President and Group President, Medical Devices

    N/A

    Lisa D. Earnhardt joined Abbott in 2019 and has led the Medical Devices division, achieving significant financial metrics.

    Louis H. Morrone

    Executive

    Executive Vice President, Core Diagnostics

    N/A

    Louis H. Morrone joined Abbott in 2017 and has held senior roles in diagnostics.

    Mary K. Moreland

    Executive

    Executive Vice President, Human Resources

    N/A

    Mary K. Moreland joined Abbott in 2013 and has been EVP, Human Resources since 2019.

    Philip P. Boudreau

    Executive

    Senior Vice President, Finance and Chief Financial Officer

    N/A

    Philip P. Boudreau joined Abbott in 1997 and has held various finance leadership roles. He became CFO in 2023.

    Claire Babineaux-Fontenot

    Board

    Director

    CEO of Feeding America; Founder of CBF Consulting Group, LLC; Director at New York Life Insurance Company

    Claire Babineaux-Fontenot joined Abbott's board in 2022, bringing expertise in organizational governance and corporate finance.

    Daniel J. Starks

    Board

    Director

    N/A

    Daniel J. Starks has been a director at Abbott since 2017, with a background as Chairman, President, and CEO of St. Jude Medical.

    Darren W. McDew

    Board

    Director

    Director at Parsons Corporation; Director at General Electric Company; Board member at USAA, Boys & Girls Club of America, and Manns Home Youth Foundation

    Darren W. McDew has been a director at Abbott since 2019, with a background as a retired four-star general in the U.S. Air Force.

    John G. Stratton

    Board

    Director

    Executive Chairman of Frontier Communications Parent, Inc.; Director at General Dynamics Corporation

    John G. Stratton has been a director at Abbott since 2017, with extensive experience in telecommunications and corporate strategy.

    Michael F. Roman

    Board

    Director

    Chairman and CEO of 3M Company; Director at 3M Company

    Michael F. Roman has been a director at Abbott since 2021, with leadership experience in manufacturing and technology.

    Michael G. O'Grady

    Board

    Director

    Chairman and CEO of Northern Trust Corporation; Director at Northern Trust Corporation

    Michael G. O'Grady has been a director at Abbott since 2023, with expertise in financial services and corporate governance.

    Michelle A. Kumbier

    Board

    Director

    Director at Teledyne Technologies Incorporated

    Michelle A. Kumbier has been a director at Abbott since 2018, with extensive experience in manufacturing and strategic planning.

    Nancy McKinstry

    Board

    Lead Independent Director

    CEO and Chairman of the Executive Board, Wolters Kluwer N.V.; Director at Accenture plc; Member of the Board of Overseers at Columbia Business School; Member of the European Round Table of Industrialists

    Nancy McKinstry has been a director at Abbott since 2011, contributing her extensive global management experience.

    Paola Gonzalez

    Board

    Director

    N/A

    Paola Gonzalez has been a director at Abbott since 2021, with a background in corporate finance and strategic initiatives.

    Robert J. Alpern

    Board

    Director

    Ensign Professor at Yale School of Medicine; Director at AbbVie Inc. and Tricida, Inc.

    Robert J. Alpern has been a director at Abbott since 2008, contributing medical and scientific expertise.

    Sally E. Blount

    Board

    Director

    President and CEO of Catholic Charities of the Archdiocese of Chicago; Michael L. Nemmers Professor of Strategy at Northwestern University; Director at the Joyce Foundation

    Sally E. Blount has been a director at Abbott since 2011, bringing expertise in business organization and strategy.

    Questions to Ask Management

    1. Given the competitive data expected in the tricuspid space and potential mortality benefits shown by competitors, how does Abbott plan to sustain growth in its structural heart franchises, particularly in the left atrial appendage closure and tricuspid markets?

    2. With concerns about U.S. provider capacity potentially limiting growth in structural heart markets like TAVR, what strategies does Abbott have in place to mitigate potential bottlenecks and ensure continued adoption of its therapies?

    3. Considering the strong statement from the FDA, CDC, and NIH regarding the lack of conclusive evidence linking infant formula to NEC, how does Abbott plan to address the ongoing lawsuits, and what measures are being taken to ring-fence liabilities related to these cases?

    4. As recently launched products are expected to contribute about $1 billion in revenue this year, double that of 2023, what specific plans does Abbott have to sustain this momentum in innovation and revenue growth into 2025 and beyond?

    5. With the expansion of the FreeStyle Libre system and the launch of Lingo for non-insulin-intensive type 2 diabetes patients, how does Abbott plan to navigate potential pricing pressures and maintain gross margins, especially as the market expands to a broader, price-sensitive population?

    Share Repurchase Program

    Program DetailsProgram 1Program 2
    Approval DateDecember 10, 2021 October 11, 2024
    End Date/DurationN/AN/A
    Total Additional Amount$5 billion $7 billion
    Remaining Authorization$659 million $7 billion
    DetailsRemaining authorization includes $659 million from this program This program is in addition to the unused portion of Program 1

    Debt Maturity Schedule

    YearAmount Due (Millions)Debt TypeInterest Rate% of Total Debt
    2024$2,154Current Portion of Long-Term DebtN/A14.4% = (2,154 / 14,979) * 100
    2029$646Yen-Denominated Term LoanN/A4.3% = (646 / 14,979) * 100

    Auditor

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP2013 PresentCurrent auditor

    Recent Mergers & Acquisitions

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Bigfoot Biomedical, Inc.

    2023

    Abbott completed the acquisition on September 22, 2023, aimed at enhancing connected solutions for more personalized and precise diabetes management, with the purchase price and asset allocation deemed not material to its financial statements.

    Cardiovascular Systems, Inc.

    2023

    Abbott acquired CSI on April 27, 2023 for approximately $851 million (at $20 per common share), adding its atherectomy system and complementary technologies to its vascular portfolio with significant intangible assets and goodwill recognized in the transaction.

    Walk Vascular, LLC

    2021

    In September 2021, Abbott acquired Walk Vascular to integrate its JETi thrombectomy system into its portfolio, targeting expansion in the high-growth peripheral thrombectomy market and planning to secure a pulmonary embolism indication.

    Latest news

    Recent developments and announcements about ABT.

    Earnings

    • New Earnings (Q4 2024)

      ·
      Jan 24, 2025, 12:13 AM

      ABT’s Q4 points to high-single-digit organic sales growth and double-digit EPS in 2024, fueled by med tech and diagnostics. Margins rose 70bps, with another 80bps expected in 2025. While China VBP remains a headwind, Abbott’s diversified pipeline supports strong momentum.

      View full earnings summary →