Abbot Pakistan

Abbot Pakistan

Product Portfolio of Abbott PakistanHistory:In 1888 Dr. Wallace C. Abbott, a working physician and medical store owner founded the Abbott Alkaloidal Company. Dr. Abbott begins producing dosimetric granules in his apartment on Chicago's North Side. The need for these granules grows away from that of his patients and then in 1900 the business is started officially in Illinois as the Abbott Alkaloidal Company. When the companys overseas sales and reputation was growing, Abbott had to consider new ways to organize its sections. Abbott had increased its business in New York, San Francisco, Seattle and Toronto over 700 products in its register. In 1915, Abbott Alkaloid business publicly altered its name to Abbott Laboratories.In 1929 Abbott listed in the stock exchange of Chicago, and started its business publically. Now Abbott is providing services in more than 120 countries and became a global modernizer in healthcare and modern products. Abbott Butyl, a butyl alcohol-based local anesthetic, which started Abbotts revolutionary role in the progress of anesthesia products. In 1931 Abbott expands its business internationally and made an international office in Montreal, Canada.In 1962 Abbott entered into a joint venture with Dainippon Pharmaceutical Co., Ltd., of Osaka, Japan, to manufacture radio-pharmaceuticals. Beside this, Abbotts expansion projects in England, Italy and France were also completed. Abbott adopted an International Division Structure with all these developments.In 1964 Abbott acquires M&R Dietetic Laboratories of Columbus, Ohio.In 1967, Abbott Laboratories successfully challenged the FDA on labeling regulations before the Supreme Court inAbbott Laboratories v. Gardner.In 1973 Abbott decided to launch the diagnostic products and services and for this purpose Abbott forms its diagnostic division.

In 1997 Abbott acquires the parenteral products business of Sanofi Pharmaceuticals, Inc., and also launches several new products, including an improved version of Similac infant formula in the U.S.In 2001, Abbott completes the acquisition of the pharmaceutical business of BASF, including the global operations of Knoll Pharmaceuticals for $6.9 billion. This deal was intended to improve Abbotts drug research business and provide it access to several experimental medicines.Abbott also acquires Vysis, Inc., a leading genomic disease management company.In 2010, Abbott acquires Solvay Pharmaceuticals and STARLIMS.

Introduction:Abbott was founded by Chicago physician, Dr. Wallace Calvin Abbott in 1888. Abbott Laboratoriesis an American globalpharmaceuticalsandhealth careproducts company. It has 90,000 employees and operates in over 130 countries.The company headquarters are in Abbott Park,North Chicago, Illinois. In 2010, Abbott had over $35 billion in revenue.Abbott is a part of global, broad-based health care company devoted to providing efficacious, safe and cost effective medicines, new technologies and innovative ways to manage health. Abbott is a diverse, global health care Company with scientific expertise and products that address the full range of health care needs - from disease prevention and diagnosis to treatment and cure. VisionTo be a premier healthcare company in Pakistan. MissionTo deliver consistently superior products and services which contribute significantly to improve the quality of life of consumers.

Our work across broad lines of business gives us a wealth of knowledge, understanding and capabilities in a number of health areas, including: Pharmaceuticals Nutritional Diagnostics Diabetes Care General Health CareAbbott's in vitro diagnostics business is a world leader in immunoassays and blood screening. Abbott's broad range of 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 important indicators of general health.Abbott health care products are designed to meet important societal needs - needs that are best met when we work collaboratively with suppliers, health care professionals and patients. Recognizing that all health care products and procedures entail some degree of risk, we are committed to working with a broad range of stakeholders to minimize these potential risks while optimizing opportunities for improved health and well-being.Our broad scientific expertise enables us to create new health care products, carry them through the critical stages of development and then deliver them to patients and health care providers around the world. Our diverse portfolio of pharmaceuticals, nutritionals, medical and diagnostic devices share a common framework of excellence in science, research, development and engineering. Our ability to create life-enhancing and life-preserving products is constantly bolstered by scientific advances, but delivering on our commitment to patients and consumers goes well beyond the laboratory.Along with educating patients and health care professionals about the safe use of our products, we work hard to ensure safety and consumer protection throughout the manufacturing and distribution process.

The safety of many product ingredients is generating significant debate throughout the health care industry. At the same time, the broad geographic dispersion of our supply chain requires increased oversight and auditing.Abbott Pakistan is part of the global healthcare corporation of Abbott Laboratories, Chicago, USA. 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 use innovative technology to produce top quality pharmaceutical products.Abbott Pakistan has leadership in the field of Pain Management, Anesthesia, Medical Nutrition and Anti-Invectives. Our wide range of products is managed and marketed through three marketing arms.On June 29, 2005 Abbott Pakistan Achieved Class 'A' accreditation against the Oliver Wight ABCD Check list. This was an outstanding achievement, which puts Abbott Pakistan amongst some of the best global companies in terms of operational excellence.A continuous process of innovation, research and development at Abbott's worldwide facilities enables Abbott Pakistan to offer effective solutions for various healthcare challenges, with products and services that are well focused, within the customer's reach and contribute to improved health care of the people of Pakistan.Abbott believes that Corporate Social Responsibility is fundamental to earning and deepening the trust of the people it serves, an integral part of its commitment to improve lives has contributed to a number of humanitarian causes and supported various institutions in various fields including health and education.The promise of our company is in the promise that our work holds for health and for life.

Executive Summary:

In 1988 Dr. Wallace C. Abbott founded Abbott Laboratories in Chicago. Over the last decades Abbott has grown up into a diversified medical products company. It is developing, producing and marketing a high portfolio of products that are used in prevention, treatment, diagnosis and care. It has basically two product group lines: The Pharmaceutical Product Group The Medical Device Product GroupThe organization has 90,000 employees working worldwide in 130 countries. Worldwide Pharmaceutical sales accounted for 59% of revenues in 2004, worldwide Nutritional sales for 20%, worldwide Diagnostics for 17%, and worldwide Other/Non Segment for 4%.Abbott Laboratories belongs to the brand pharmaceutical industry, a highly competitive industry and they rely on R&D to make new innovations in drugs.By securing patents for these discoveries, other brand pharmaceutical companies are able to protect their drugs against duplicate. In this industry patent protection lasts for 20 years, but the long development process necessary to bring drugs to market makes their effective lifespan a little over a decade.However, the relatively inelastic demand curve of consumers who purchase prescription drugs through pharmacies allow Abbott to extract high profit margins. Substitutes for Abbotts drugs include drugs from other brand pharmaceutical companies with similar benefits and generic versions of Abbotts drugs whose patents have expired.Although research-based pharmaceuticals have been Abbotts main line of business throughout the past century, in recent years they have shifted more of their focus on to the diversified medical product sector. 2011 when they announced the spinning off of their research-based pharmaceutical business and the intention to keep the diversified medical products under the Abbott name.

Research and development costs for new drugs remain high in recent years and increased government regulation projected to shorten patent protection periods has made it increasingly difficult for pharmaceutical companies to produce high enough revenues to cover their costs of production.Griffin agrees with Abbotts decision to shift their focus away from branded pharmaceuticals towards other pillars of their business. They will, however, need to focus on increasing their margins in these lines of business, especially as they expand internationally in to high-growth emerging markets. In 2011 Abbott has already begun expanding overseas. Abbott is one of few companies diversified and developed enough to produce such a product, and as such has seen the stent become a best-selling product with essentially no viable competitors.While they still operate both lines of business it is in Abbotts best interest to develop synergies between their product lines. Currently, although it is a diversified company, Abbott operates its product lines fairly independently.By creating more synergies within the branches of its business Abbott can take advantage of economies of scope and create novel products that carve out their own distinct niches in the marketplace.Abbott can pursue is further diversifying their product line through acquisitions of biotech companies. Biotech products tend to be produced using microorganisms and DNA, making them much more difficult to copy than traditional pharmaceutical compounds. This complexity will allow Abbott to retain more market share of their products after the patent expires, reducing their exposure to generic erosion, the main threat for all big pharmaceutical companies.