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Abbott Laboratories facts for kids

Kids Encyclopedia Facts
Abbott Laboratories
Public
Traded as NYSEABT
S&P 100 Component
S&P 500 Component
Industry
  • Health care
  • Pharmaceutical
Founded 1888; 132 years ago (1888) (as Abbott Alkaloidal Company)
Founder Dr. Wallace Calvin Abbott
Headquarters Abbott Park, Illinois, U.S.
Area served
Worldwide

Abbott Laboratories is an American medical devices and health care company with headquarters in Abbott Park, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products.

In October 2011, the company announced that it planned to separate into two companies, one research-based pharmaceuticals and the other in medical devices, generic drugs sold internationally, and consumer products, with device company retaining the Abbott name.

The company announced that the other company would be named AbbVie in March 2012.

Abbott has a broad range of branded generic pharmaceuticals, medical devices, diagnostics, and nutrition products.

Its medical tests and diagnostic instrument systems are used worldwide by hospitals, laboratories, blood banks, and physician offices to diagnose and monitor diseases such as HIV, hepatitis, cancer, heart failure and metabolic disorders, as well as assess other indicators of health.

In 1985, the company developed the first HIV blood-screening test.

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