Abbott

Abbott Laboratories (NYSE: ABT) is a leading, diversified, diagnostic system and medical device manufacturer. It is among the 10 largest medical device manufacturers by revenue, based on corresponding segment sales in 2023. In 2013, the company spun off its branded pharmaceutical business into a new entity named AbbVie, allowing the company to focus on its core strengths relating to diagnostic and medical devices. Abbott generated USD 40.1 billion in sales in 2023.

The company's Diagnostic Products segment includes a range of rapid test kits and laboratory diagnostic systems focused on infectious diseases, cardiometabolic diseases, and toxicology. Abbott's Medical Devices segment offers a broad range of medical devices for diabetes care, vascular, rhythm management, electrophysiology, heart failure, and neuromodulation. The company’s infant and follow-on formula and adult nutritional products are sold under its Nutritional Products segment. Abbott also houses a portfolio of branded generic pharmaceuticals under its Established Pharmaceutical Products segment. These products are focused on gastroenterology, women's health, cardiology, metabolism, and pain and central nervous system disorders, and are sold exclusively outside the US.

International markets accounted for ~61% of Abbott’s 2023 sales, while the US—being the largest standalone market—accounted for the remainder. Diabetes care remains a focus area for the company, particularly with its continuous glucose monitoring (CGM) device, FreeStyle Libre, being a potential USD 10 billion opportunity over the long term. It expects an 8% to 10% organic sales growth target for 2024, excluding Covid-19 test sales. Abbott Laboratories has also targeted a 30% reduction in absolute Scope 1 and 2 carbon emissions by 2030, compared with its 2018 baseline.