More than a century ago, 30-year-old Dr. Wallace C. Abbott, a practicing
physician and drug store proprietor, founded the Abbott Alkaloidal Company.
Using the active - or alkaloid - part of a medicinal plant, he formed tiny
pills, called “dosimetric granules,” which provided a more accurate and
effective dosing for his patients than other treatments available at the time.
The demand for these accurate granules soon far exceeded the needs of his own
practice and from these modest origins was born Abbott, one of the world’s most
broad-based health care companies and a leader in the discovery, development
and manufacture of products that span the continuum of care.
Abbott trademarks and products in-licensed by Abbott are shown in italics.
Founding and Modern Science
From the very beginning, Dr. Abbott and the company’s early founders
championed scientific investigation to benefit patients. With alkaloidal
medicine, Abbott’s founders were pioneers in the creation of the scientific
practice of pharmacy, devising a new and better way to deliver medicine
granules to improve the quality of care for patients. Abbott was an early
innovator in physician education as well, supporting a sizable publishing
operation.
1888
Dr. Wallace C. Abbott, a practicing physician, begins manufacturing dosimetric granules. Dr. Abbott is one of the founders of modern pharmacy.
1894
Dr. Abbott acquires and becomes editor of The Alkaloidal Clinic.
1900
The company is officially incorporated as the Abbott Alkaloidal Company.
1906
To reach more physicians, Dr. Abbott establishes the company’s sales force.
1910
Abbott establishes its first European agency in London and branches in New York, San Francisco, Seattle, Toronto and India.
Growth and Service
After the first years of Abbott's success based primarily on alkaloidal medicines,
Dr. Alfred S. Burdick, a young medical professor and writer hired in 1904,
convinced Dr. Abbott that the future would take a different direction.
With the world standing on the threshold of rapid progress in chemistry,
Abbott shifted its research focus from alkaloids to synthetic (chemical) medicines,
an area positioned for tremendous growth. In 1915, the name of the company changed
to reflect the commitment to new areas of research, beyond alkaloids.
The newly renamed Abbott Laboratories entered a period of growth characterized by war,
strategic acquisitions and constant scientific pursuit.
1916
Abbott acquires its first synthetic medicine, an antiseptic agent called
Chlorazene, which is used extensively on the battlefields of World War I
to clean wounds.
1920
Dr. Abbott breaks ground for a new facility in North Chicago, Illinois. The
site serves as the company’s world headquarters for more than 40 years.
1923
Abbott develops the synthetic drug Butyn, a local anesthetic, based
on butyl alcohol. It marks Abbott’s official entrance into the anesthesia
market, and butyl alcohol becomes a keystone of Abbott's scientific research in
sleep-inducing agents.
1929
Abbott stock is listed on the Chicago Stock Exchange with an offering of
20,000 shares at $32 each.
1930
Nembutal, a sedative - hypnotic agent and one of Abbott's best-known
and longest-lived products, is introduced.
1931
Combining an existing sales office and the Canadian operations of the
recently acquired Swan Meyer, Co., Abbott establishes its first international
affiliate in Montreal, Canada.
1936
Abbott introduces Pentothal (thiopental sodium), which will be the
most widely used induction anesthetic in the world for more than 50 years.
Abbott enters the I.V. business by supplying hospitals with bulk intravenous
solutions. This innovation will lead to the induction of two of our scientist
in the U.S. Inventors Hall of Fame.
1938
Abbott celebrates its 50th anniversary with the dedication of its
North Chicago Research Center.
Progress
In the mid-twentieth century, Abbott rose to a new level scientifically,
commercially and as an employer. New programs to benefit employees were
created. Research during and after World War II yielded important new products
in many therapeutic areas, including antibiotics. Sales and marketing
innovation led to great commercial growth, and new operations around the world
continued to open.
1939
Health care benefits are extended to employees' dependents.
1941
Discovered in Great Britain in 1928, penicillin had tremendous clinical
value, but had yet to be produced on a large scale. In 1941, Britain seeks help
in starting large-scale production and Abbott accepts the challenge. Within
three months Abbott begins commercial production of penicillin, one of the five
pioneers in the United States.
1942
Abbott introduces Halazone, a water purification tablet shipped by
the millions to every fighting front in World War II.
1943
Abbott opens its first facility in Puerto Rico, later to become one of its
largest manufacturing operations.
1945
Abbott introduces Tridione for treatment of epilepsy, Surbex,
a high-potency vitamin, and Venopac, the first fully disposable
intravenous administration set.
1946
Abbott is the first pharmaceutical company to have a special laboratory for
radioactive pharmaceuticals, or "radiopharmaceuticals," a move that
leads to the creation of what will become the world’s leading immunodiagnostics
business.
1947
Abbott introduces Aminosol, a new protein solution for intravenous
feeding of surgical patients. Abbott develops the Abbott Sanitary Counting
Tray.
1949
Abbott celebrates its 50th anniversary with the dedication of its
North Chicago Research Center.
1950
Raymond E. Horn steps down as president because of illness. His successor is
Dr. Ernest Volwiler, the first president since Dr. Burdick with a scientific
background. Abbott introduces Sucaryl, its first truly consumer product,
opens a registered entity in France, and enters into business in Spain.
1951
Abbott introduces Selsun Suspension shampoo for dandruff control. The
company establishes an employee contributory stock purchase plan.
1952
Abbott introduces Erythrocin, a new antibiotic with good activity
against gram-positive bacteria.
1953
Abbott's radiopharmaceutical business introduces Radiocaps, capsules
containing an accurately controlled, invisible and un-weighable film of
radioiodine that simplifies the diagnosis and treatment of thyroid
disorders.
Expansion to Specialization
The second half of the 20th century is one of continued growth. Abbott moved
into a variety of businesses, including several that it would exit, such as
sweeteners, eye drops and golf equipment. By the 1980s, several businesses were
divested as Abbott began to narrow its focus where its expertise best aligned
with patient needs.
1962
Abbott enters a joint venture with Dainippon Pharmaceuticals Co., Ltd., of
Japan to manufacture radiopharmaceuticals. This venture will become Dainabot,
and eventually evolve into Abbott Japan, the company’s largest operation
outside the United States.
1963
The Triosorb diagnostic test kit, even simpler than the Radiocaps introduced
ten years earlier, no longer requires a patient to swallow a radioactive
substance; rather, a blood sample is inoculated with a radioactive form of
thyroid hormone.
1964
Abbott acquires M&R Dietetic Laboratories of Columbus, Ohio, best known
as makers of Similac infant formula, one of the first milk-based infant
formulas. M&R eventually becomes Abbott’s Ross Products Division.
1965
Abbott’s growth warrants expansion at its headquarters location, and the
company begins to move some operations to Abbott Park, a 420-acre site
southwest of its North Chicago operations.
1972
Abbott introduces Tranxene, a tranquilizer, Ausria, a
radioimmunoassay test to detect serum hepatitis, and the ABA-100 blood
chemistry analyzer.
1973
Abbott forms a diagnostics division to bring together all diagnostic
products and services. The company also introduces Ensure, the first
adult medical nutritional.
1977
TAP Pharmaceuticals, now known as TAP Pharmaceutical Products Inc., is
formed as a joint venture between Abbott and Takeda Chemical Industries, Ltd.
of Japan.
1981
Abbott introduces the TDx therapeutic drug monitoring system.
1983
Depakote (divalproex sodium) is approved in the United States.
1985
Abbott wins U.S. approval to market the world’s first diagnostic test for
AIDS. Abbott also launches ADD-Vantage, an intravenous drug delivery
system, and TAP receives its first product approval for Lupron
(leuprolide acetate).
1987
Hytrin (terazosin hydrochloride) receives U.S. FDA approval.
1988
Abbott celebrates its centennial. The IMx diagnostic instrument, used
in medium-sized laboratories, is introduced and will become the world’s leading
immunoassay system and one of the best-selling new products in Abbott’s
history.
Specialization
By the end of the twentieth century, Abbott further refined its focus,
delivering both scientific and financial results. New, more specialized
products were introduced in many divisions, some developed in-house and some
brought from the outside. Abbott continued to divest other products so that it
could concentrate on what it has always done best: create quality health care
products for people in every stage of life.
1990
Clarithromycin launched. Clarithromycin is known as Biaxin in the
United States and Klacid and Klaricid in countries around the
world.
1991
Several major products are introduced worldwide, including Survanta
(beractant) and a prostate-specific antigen (PSA) test to screen and
monitor therapy for prostate cancer. Abbott enters the hematology testing
market with the acquisition of Sequoia-Turner Corp.
1993
Abbott launches AxSYM, a new labor-saving diagnostic system.
1994
Abbott introduces sevoflurane, and completes an agreement to cross-license
LCR and PCR, two gene amplification technologies.
1995
TAP receives approval for PREVACID (lansoprazole). In diagnostics, ABBOTT
PRISM, the first, fully automated high-volume blood analyzer is introduced.
Today, the ABBOTT PRISM is used to screen the majority of the world’s
donated blood supply.
1996
Abbott launches Norvir (ritonavir). The company enters the glucose
testing market with the acquisition of MediSense, Inc.
1997
After extensive research, Abbott’s Ross Products Division launches an
improved version of Similac called Similac Advance.
1998
Abbott launches Glucerna shakes and snack bars, specially formulated
nutritional products for people with diabetes. The U.S. FDA approves several
major products including TriCor (fenofibrate) and Zemplar
(paricalcitol).
Transformation
In recent years, Abbott has adapted to the rapidly changing and intensely
competitive health care environment of the twenty-first century. As we’ve added
new businesses and reorganized, we’ve kept our focus where it has always been –
on the patient.
1999
Abbott launches ARCHITECT, a next-generation diagnostic system.
Abbott acquires Perclose, Inc., the leading arterial closure device
manufacturer, which provides the foundation for building its vascular business.
Later that year, the FDA approves The Closer, a next generation vascular
closure device.
2000
Abbott receives approval for several new drugs and line extensions,
including Kaletra (lopinavir/ritonavir), Biaxin XL
(clarithromycin extended-release tablets), and Depakote ER (divalproex
extended-release tablets). Abbott introduces an innovative award-winning,
32-ounce, reclosable plastic bottle for Similac with Iron.
2001
Abbott acquires the pharmaceutical business of BASF AG, including the global
operations of Knoll Pharmaceuticals. In addition, Abbott acquires Vysis, Inc.,
and receives clearance to market the Vysis UroVysion test to monitor for
recurrent bladder cancer.
2002
Abbott receives FDA approval for Humira (adalimumab). The company
launches Similac Advance, Isomil Advance and NeoSure Advance
infant formulas in the United States. Abbott acquires the cardiovascular stent
business of Biocompatibles International plc., as it works to build its
vascular business.
2003
Abbott launches HUMIRA in Europe. The company launches three new
immunodiagnostics systems for use on the ARCHITECT platform. Abbott also
continues to build its medical products business through several strategic
acquisitions: JOMED's coronary and peripheral intervention business lines and
Integrated Vascular Systems Inc.; Spinal Concepts Inc., an innovator of spinal
implant devices; and ZonePerfect Nutritional Co., which signals Abbott's
entrance into the fast-growing healthy living category of the nutrition
market.
2004
Abbott acquires TheraSense Inc., a leading blood glucose monitoring
business, to complement its fast-growing diabetes care business. The company
also enters the point of care diagnostics market with the acquisition of i-STAT
Corp.; adds to its healthy living nutrition offerings with the acquisition of
EAS Inc., and firmly establishes its presence in the spinal device market with
the acquisition of Spine Next S.A. Abbott also spins off its hospital products
business as Hospira, an independent, publicly traded company. Hospira is one of
the largest global specialty pharmaceutical and medication delivery companies
serving the hospital.
2005
Abbott introduces several medical devices including the Xact carotid stent
with the Emboshield capture device; the FreeStyle Connect blood glucose
monitor; and, in the United States, launches the ABBOTT PRISM blood
screening system and the CELL-DYN Sapphire hematology system. The
company also receives FDA approval for two new uses for HUMIRA. Abbott
also makes changes to its Kaletra product.
2006
Abbott acquires Guidant's vascular business, which, combined with Abbott's
ongoing business, creates one of the leading global vascular device companies.
Abbott acquires Kos Pharamaceuticals, greatly expanding its presence in
cardiovascular medicine including lipid management.
