North Chicago, IL 60064-6400
224 667 6100
Ticker Symbol: (NYSE: ABT)
Industry: Medical Devices
Full Time Employees: 109,000
Abbott Laboratories 2021 Fortune 500 Rank: #89
The Abbott Org Chart Report covers key business units including HR, Finance, IT, Operations and more.
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The Abbott Contact Spreadsheet is a directory of names, titles, phone numbers, and addresses.
|NAME||TITLE||MAIN PHONE||DIRECT PHONE|
|Robert Funck||Executive VP, Finance & Chief Financial Officeremail@example.com||(224) 667-6100||disguised|
|Julie Tyler||Senior Vice President and President, Vascularfirstname.lastname@example.org||(224) 667-6100||
|Joseph Schneider||General Manager (Americas)||email@example.com||(224) 667-6100||
|Brian Mottola||Divisional Vice President and General Manager, Electrophysiology Japanfirstname.lastname@example.org||(224) 667-6100||
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Abbott Laboratories Executive Leadership Team
|Miles D. White||Executive Chairman of the Board|
|Robert B. Ford||President and Chief Executive Officer|
|Hubert L. Allen||Executive Vice President, General Counsel and Secretary|
|John M. Capek||Executive Vice President, Ventures|
|Lisa D. Earnhardt||Executive Vice President, Medical Devices|
|Robert E. Funck, Jr.||Executive Vice President, Finance and Chief Financial Officer|
|John F. Ginascol||Executive Vice President, Core Diagnostics|
|Andrew H. Lane||Executive Vice President, Established Pharmaceuticals|
|Mary K. Moreland||Executive Vice President, Human Resources|
|Daniel Salvadori||Executive Vice President, Nutritional Products|
|Andrea F. Wainer||Executive Vice President, Rapid and Molecular Diagnostics|
Senior Vice President, Core Laboratory Diagnostics, Commercial Operations
|Christopher J. Calamari||Senior Vice President, U.S. Nutrition|
|Michael Dale||Senior Vice President, Structural Heart|
|J. Scott House||
Senior Vice President, Quality Assurance, Regulatory and Engineering Services
|Sammy G. Karam||
Senior Vice President, Emerging Markets Established Pharmaceuticals
|Joseph Manning||Senior Vice President, International Nutrition|
|Louis H. Morrone||Senior Vice President, Rapid Diagnostics|
|Michael J. Pederson||Senior Vice President, Electrophysiology and Heart Failure|
|Julie Tyler||Senior Vice President, Vascular|
|Jared L. Watkin||Senior Vice President, Diabetes Care|
|Alejandro Wellisch||Senior Vice President, Established Pharmaceuticals, Latin America|
Senior Vice President, Cardiac Rhythm Management
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Abbott Laboratories Board of Directors
|Miles D. White||Executive Chairman of the Board||Abbott Laboratories|
|Robert J, Alpern||Ensign Professor of Medicine and Professor of Internal Medicine||Yale School of Medicine|
|Roxanne S. Austin||President and Chief Executive Officer||Austin Investment Advisors|
|Sally E. Blount||Chief Executive Officer||Catholic Charities of the Archdiocese of Chicago|
|Robert B. Ford||President and Chief Executive Officer||Abbott Laboratories|
|Michelle A. Kumbier||Former Senior Vice President and Chief Operating Officer||Harley-Davidson Motor Company|
|Darren W. McDew||Retired four-star general||United States Military|
|Nancy Mskinstry||Chief Executive Officer and Chairman of the Executive Board||Wolters Kluwer N.V.|
|William A. Osborn||Retired Chairman||Northern Trust Corporation|
|Michael F. Roman||Chairman of the Board, President and Chief Executive Officer||3M Company|
|Daniel J. Starks||Retired Chairman, President and Chief Executive Officer||St. Jude Medical, Inc.|
|John G. Stratton||Executive Chairman||Frontier Communications Parent, Inc.|
|Glenn F. Tilton||Chairman, President and Chief Executive Officer of UAL Corporation, and Chairman and CEO||United Air Lines, Inc.|
Abbott Laboratories Sales Trigger Events
How Abbott Labs’ vision for health care and digital tech is coming together
October 5, 2021
Abbott Labs CEO Robert Ford will be delivering a keynote address at CES 2022 which runs from January 5th to the 8th in Las Vegas. It's the first time a health tech company will be delivering a keynote at CES. Mr. Ford will be addressing COVID and the pandemic and the convergence they're seeing between health care technology and digital technology. He will be addressing the importance of digitization with medical testing and devices. And, he will talk about the three aspects of the Abbott corporate vision; digitize, democratize, and decentralize.
Abbott Partners with Cardinal Health offer OTC COVID-19 tests
August 10, 2021
Cardinal Health announced that the company will focus its efforts to commercialize and broaden access to rapid COVID-19 tests. The company will leverage its network to support broad access to Abbott's BinaxNOW™ COVID-19 Antigen Self-Test.
"As the most widely used and studied rapid COVID-19 antigen tests in the U.S., BinaxNOW has helped communities, schools, workplaces and families quickly identify infectious people and help stop the spread of the virus," said Andrea Wainer, executive vice president, Rapid and Molecular Diagnostics, Abbott. "Partnering with Cardinal Health widens the distribution of our over-the-counter self-tests to more organizations around the country, providing people with answers quickly and in the comfort of their own homes."
Walgreens and Abbott Partner to Launch Program to Increase Access to Rapid Tests in Philadelphia
June 7, 2021
Abbott and Walgreens announced a pilot program to increase access to rapid testing for Pennsylvania Electronic Benefit Transfer (EBT) cardholders. Residents of Pennsylvania EBT* ACCESS card will be able to receive Abbott's BinaxNOW COVID-19 Antigen Self Tests.
Customers will be able to visit the Walgreens pharmacy counter at 16 Walgreens locations within Philadelphia's city limits to receive their tests. The program will span through the July 4 holiday, a time when families, friends and communities gather in large settings.
"We have made enormous strides with COVID-19 testing over the past year and today rapid self testing is broadly available," said Andrea Wainer, executive vice president, Rapid and Molecular Diagnostics, Abbott. "Through this pilot, we hope to take learnings and share them with governments and health authorities to ensure that more people have access to rapid testing so we can return to the daily interactions we've missed."
Abbott Labs Will Be Restructuring With Demand Increased in Covid-19 Testing
June 3, 2021
Recently, Abbott Laboratories said it approved a restructuring plan. The company estimates pretax costs to implement its plan to be about $550 million to $700 million. "The costs are expected to be incurred during the remainder of 2021 with the majority of the costs expected to be recorded in the second quarter of 2021," the company Abbott said.
$410 million infusion plans from Abbott Labs
February 23, 2021
Abbott Laboratories will contribute around $410 million to its global pension plans in 2021. The company contributed $400 million to the plans in 2020 and $382 million in 2019. Abbott Labs provides actual allocation information for global pension plans.
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Abbott Laboratories Earnings Call Highlights
Abbott Laboratories (NYSE:ABT) Q2 2021 Earnings Conference Call
July 22, 2021
Executives in Attendance:
- Robert Ford - President, Chief Executive Officer
- Bob Funck - Executive Vice President, Finance, Chief Financial Officer
- Scott Leinenweber - Vice President, Investor Relations, Licensing and Acquisitions
- Bob Hopkins - Bank of America
- Robbie Marcus - JP Morgan
- Vijay Kumar - Evercore
- Larry Biegelsen - Wells Fargo
- Matt Taylor - UBS
- Joanne Wuensch - Citibank
- Josh Jennings - Cowen
Comments from Robert Ford, CEO:
"Turning to diagnostics. Sales increased more than 55%, which includes $1.3 billion of COVID testing-related sales. Excluding COVID testing-related sales, underlying diagnostic sales increased 37% compared to last year."
"Strong sales growth in our underlying diagnostic business is being driven by improving routine diagnostic testing as healthcare systems continue to recover from the pandemic, as well as the continued rollout of our Alinity platforms. Excluding COVID testing-related sales, second quarter sales in core laboratory and molecular diagnostics grew mid single digits compared to pre-pandemic levels in the second quarter of 2019."
"Strong growth in the quarter was led by structural heart, electrophysiology, heart failure and diabetes care, all of which grew double digits compared to the second quarter of 2019. In structural heart, we achieved the highest number of MitraClip procedures ever in the second quarter, including a record number of procedures in the month of June."
"So in summary, we’re achieving strong growth across all four of our major businesses, particularly pleased with the strong momentum and growth contributions we’re seeing from several recently launched products and investments we’re making in our key growth platforms, and our new product pipeline continues to be incredibly productive, delivering a steady cadence of new products with more to come over the next several months."
Comments from Bob Funck, CFO:
"Regarding other aspects of the P&L for the quarter, the adjusted gross margin ratio was 56.9% of sales, adjusted R&D investment was 6.2% of sales and adjusted SG&A expense was 25.8% of sales."
"Turning to the outlook for the third quarter, we forecast adjusted earnings per share of at least $0.90, which reflects continued strong growth and momentum in our core underlying business and a sequential step down in COVID testing-related sales compared to the second quarter. And based on current rates, we would expect exchange to have a favorable impact of around 1% on our third quarter reported sales."
Upcoming Abbott Earnings Call Scheduled for October 20, 2021
Abbott Laboratories Financial Highlights
|Fiscal Year Ends||December 31, 2021|
|Most Recent Quarter||July 22, 2021|
|Return on Assets||7.19%|
|Return on Equity||19.66%|
|Revenue Per Share||22.65|
|Quarterly Revenue Growth||39.50%|
|Net Income Avi to Common||6.34B|
|Quarterly Earnings Growth||121.40%|
|Total Cash Per Share||5.05|
|Book Value Per Share||19.07|
|Cash Flow Statement|
|Operating Cash Flow||10.63B|
|Levered Free Cash Flow||7.58B|
Highlights from 2020 CEO's Letter to Shareholders
President and Chief Executive Officer
"We recognized early in the year that COVID would require a major mobilization on our part as a global leader in medical diagnostics. To tackle a challenge of this magnitude, we knew the world would need different tests for different stages of the disease process and for different testing environments — from high-throughput instruments capable of handling large volumes of tests at once, to rapid point-of-care testing delivering reliable, on-the-spot results, fast. We formed multiple R&D teams to pursue these complementary objectives. The result was a range of tools across the testing spectrum for use from advanced labs to drive-thru sites."
"As important as creating the tests themselves is the ability to produce them at massive scale to meet this unprecedented need for ongoing testing at the population level. So, we moved with unprecedented speed to increase our manufacturing capacity, quickly launching three new facilities, allowing us to deliver tens of millions of tests every month."
"Looking ahead, we recently launched our 2030 Sustainability Plan, outlining strategies and commitments for how we’ll lead the company in the coming years to address critical societal goals."
"We believe that by reconceptualizing the strategy and process of development we can create future products with both imperatives — effectiveness and affordability — as equally fundamental design principles, without compromising quality."
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Abbott Laboratories Developments
In early 2020, Abbott began outfitting a new diagnostics laboratory for the NHS Grampian health system in Aberdeen, Scotland.
Abbott announced a collaboration with Insulet to develop a platform to integrate leading glucose sensing technology with Insulet’s Omnipod Horizon™ Automated Insulin Delivery System.
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