Last Updated: 21st November 2022
Abbott Laboratories is an American multinational medical device, healthcare, and pharmaceutical company. It sells medical devices, diagnostics, branded generic medicines, and nutritional products.
Employees: 113,000
Revenue: €43.1bn for FY2021
HQ Location: Illinois, United States
What they do:
They help people by discovering new ways to make life better.
They believe they do this by continuing to build life-changing technologies that keep the heart healthy, nourish the body at every stage of life, help people to feel and move better and bring people information, medicines and breakthroughs so that people can manage their own health.
Their vision and priorities:
To design their life-changing technologies to be accessible and affordable to everyone.
Three things to know right now
Three CES Awarded
In November, Abbott received 3 CES 2023 innovation awards for advancements in health technology.
Abbots’s Freestyle Libre was named the best.
The Freestyle Libre was honored as the ‘best of the best’ since 1970. It has transformed the lives of approx. 4.5 million people living with diabetes globally.
Breakthrough device designation from the US
Abbot announced device designation for its first of its kind glucose-ketone bio-wearable sensor development program, which will enable people with diabetes to continually monitor glucose and ketones, helping those at risk for developing a life-threatening complication called diabetic ketoacidosis.
What does each business segment do?
Nutrition
This business segment offers evidence-based nutrition, research conferences, and shared initiatives to help address clinical and nutritional challenges facing today’s healthcare professionals.
Diagnostics
This business segment analyses DNA and RNA at the molecular level in order to guide treatment decisions by providing more accurate clinical tests or helping to identify highly targeted therapies that are likely to be more successful.
Established Pharmaceuticals
This business segment creates breakthrough products - in diagnostics, medical devices, nutrition and branded generic pharmaceuticals, that helps people, their family and their community lead much healthier lives.
Medical Devices
This business segment develop life-changing technologies by changing the meaning of cardiovascular, neuromodulation and diabetes care.
Their financial calendar
Q1: January-March - Earnings 20th April
Q2: April-June - Earnings 20th July
Q3: July-September - Earnings 19th October
Q4: September-December - Earnings 20th January
Positives from the last earnings report:
Their new product pipeline remains highly productive and their diversified business continues to be resilient in the challenging environment.
Worldwide sales of $10.4bn in the third quarter
Raises full-year earnings per share guidance
Challenges from the last earnings report:
Lower-than-expected growth in international sales of medical devices due to supply challenges from China due to lockdowns.
Third-quarter sales are down by $0.9 bn compared to the 2nd quarter sales.
Next Earnings Report:
Around 20th January 2023
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