Katrina Abbott Popular Books

Katrina Abbott Biography & Facts

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Green Oaks, 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. It split off its research-based pharmaceuticals business into AbbVie in 2013.Abbott's products include Pedialyte, Similac, BinaxNOW, Ensure, Glucerna, ZonePerfect, FreeStyle Libre, i-STAT and MitraClip. History Foundation and early history In 1888 at the age of 30, Wallace Abbott (1857–1921), an 1885 graduate of the University of Michigan, founded the Abbott Alkaloidal Company in Ravenswood, Chicago. At the time, he was a practising physician and owned a drug store. His innovation was formulating the active part of alkaloid medicinal plants—morphine, quinine, strychnine and codeine—as tiny "dosimetric granules", producing more consistent and effective dosages for patients than the liquid preparations previously used, which deteriorated over time. In 1922, the company moved from Ravenswood to North Chicago, Illinois. International expansion Abbott's first international affiliate was in London in 1907; the company later added an affiliate in Montreal, Canada. Abbott India Ltd was originally incorporated on August 22, 1944, as Boots Pure Drug Company (India) Ltd. The company name was changed to The Boots Company (India) Ltd on November 1, 1971, and to Boots Pharmaceuticals Ltd on January 1, 1991. On October 31, 1995, the name was changed to Knoll Pharmaceuticals Ltd and on July 1, 2002, to their present name Abbott India Ltd. Abbott started operations in Pakistan as a marketing affiliate in 1948; the company has steadily expanded to comprise a work force of over 1500 employees. Currently, two manufacturing facilities located at Landhi and Korangi in Karachi continue to produce pharmaceutical products. In 1962 Abbott entered into a joint venture with Dainippon Pharmaceutical Co., Ltd., of Osaka, Japan, to manufacture radio-pharmaceuticals. In 1964, it merged with Ross Laboratories, making Ross a wholly owned subsidiary of Abbott, and Richard Ross gained a seat on Abbott's board of directors until his retirement in 1983. The acquisition of Ross brought Similac under the Abbott umbrella. In the years following the acquisition, Pedialyte and Ensure were introduced as nutritional products by Ross Laboratories while under Abbott's leadership.In 1965, Abbott's expansion in Europe continued with offices in Italy and France.According to Harvard professor Lester Grinspoon and Peter Hedblom, "In 1966 Abbott Laboratories sold the equivalent of two million doses of methamphetamine in powder form to a Long Island criminal dealer". 21st century In 2001, the company acquired Knoll, the pharmaceutical division of BASF, for $6.9 billion. In 2002, it divested the Selsun Blue brand to Chattem. Later in 2002, it sold Clear Eyes and Murine brands to Prestige Brands. In 2004, it acquired TheraSense, a diabetes-care company, which it merged with its MediSense division to become Abbott Diabetes Care. In 2006, Abbott assisted Boston Scientific in its purchase of Guidant Corporation purchasing the vascular device division of Guidant.In 2007, Abbott acquired Kos Pharmaceuticals for $3.7 billion in cash. At the time of acquisition Kos marketed Niaspan (extended release niacin), and Advicor (niacin/lovastatin). In 2007 the company was to sell two diagnostics divisions to General Electric, but the parties did not agree on the terms of the acquisition.On 8 September 2007, the company sold the UK manufacturing plant at Queenborough to UK manufacturer Aesica Pharmaceuticals.Abbott's Ross Products was renamed Abbott Nutrition in 2007.In 2009 Abbott acquired Advanced Medical Optics of Santa Ana, California, selling it to Johnson & Johnson in 2017. In 2009, Abbott opened a satellite research and development facility at Research Park, University of Illinois at Urbana-Champaign.In February 2010, Abbott acquired the pharmaceuticals unit of Solvay S.A. for US$6.2 billion (€4.5 billion), gaining many additional pharmaceutical products and an increased presence in emerging markets.In 2010 the company acquired Hollywood, Florida-based laboratory information management system company STARLIMS for $123 million, $14 per share. That year Abbott said it would buy Piramal Healthcare of India's large generic drugs unit for $3.72 billion. Spin-offs In 2004, Abbott spun off its hospital products division into a new 14,000 employee company, Hospira, which was acquired by Pfizer in 2015.In October 2011, Abbott planned to separate into two companies, one for research-based pharmaceuticals (AbbVie) and the other for medical devices, generic drugs sold internationally, and diagnostics, with the latter retaining the Abbott name. Abbott Nutrition, whose products include Similac, Pedialyte, Glucerna, and Ensure, also retained the Abbott name. In preparation for the reorganization, Abbott made severe budget cuts and took a $478 million charge in Q3-2012. The separation was effective as of 1 January 2013, and AbbVie was listed in the New York Stock Exchange. Further developments On 16 May 2014, it was announced that Abbott would acquire the holding company Kalo Pharma Internacional S.L. for $2.9 billion in order to secure the 73% it held of Chilean pharmaceutical company, CFR Pharmaceuticals, which the company said would more than double its branded generic drug portfolio.In December 2014, the company acquired Russian pharmaceutical manufacturer Veropharm (Voronezh) in a deal worth $410 million, which included three manufacturing facilities. Abbott, which already employed 1,400 people in Russia, said it planned to set up a manufacturing presence in the country when the deal closed.In September 2015, the company announced it had completed its acquisition of Tendyne Holdings, Inc., a private medical device company focused on developing minimally invasive mitral valve replacement therapies. Tendyne was acquired for a total transaction value of $250 million. In January 2020, the Tendyne Mitral Valve became the world's first commercially available solution for Mitral Valve Replacement Technology. Abbott obtained CE Mark for the device which now makes it possible to implant it in Europe outside of a clinical setting. The US clinical study for federal approval is still ongoing.In February 2016, the company announced it would acquire Alere for $5.8 billion. In January 2017, Abbott announced it would acquire St. Jude Medical for $25 billion (each share receiving $46.75 in cash & 0.8708 shares of Abbott common stock, equating to an approximate value of $85). On 3 October 2017, the company closed the Alere acquisition making the surviving entity the market leader player in the $7 billion point-of-care diagnostic space within the broader $50 billion in-vitro diagnostics market with this.... Discover the Katrina Abbott popular books. Find the top 100 most popular Katrina Abbott books.