Abbott Diabetes Care is a leading pharmaceutical company located in Maidenhead, Berkshire.
Abbott is one of the world’s leading brands in the development and marketing of medical products and provides a comprehensive range of blood glucose monitoring systems for diabetics in the UK and globally.
The company has around 100 facilities worldwide with nearly 90,000 employees.
The company operates in 130 countries worldwide.
Abbott entered the blood glucose-monitoring marketplace with the acquisition of MediSense in 1996.
By April 2004, Abbott announced they had joined with TheraSense, who create virtually pain-free devices that offer blood glucose self-monitoring with rapid results.
This breakthrough in technology for diabetics meant their position in the growing blood glucose monitoring marketplace strengthened and more products became available such as:
They have UK based facilities such as the Optium and Precision Test Strip Manufacturing site in Witney in Oxfordshire. They also have a FreeStyle Test Strip Manufacturing site in Donegal in Ireland.
The company was founded more than 120 years ago by 30-year-old Dr. Wallace C. Abbott. He was a practicing physician and pharmacy proprietor who regularly tested for effective treatments.
Using the active part of a medicinal plant, known as the “alkaloid”, he discovered tiny pills called dosimetric granules, which provided more accurate dosing for his patients than other treatments at that time. The demand for these pills was phenomenal and the Abbott Company was born.
How has Abbott developed over the last 100 years?
- 1923 – The development of Buty, an alcohol-based anesthetic, marks their first product in anesthesia.
- 1941-45 – Abbott begins the development of anti-infective penicillin and Tridione for epilepsy treatment, is introduced.
- 1953 – Abbott expands on its radiopharmaceutical business and creates Radiocap tablets to ensure faster ways of diagnosing thyroid disorders
- 1983 – Abbott finished Depakote, a new treatment for epilepsy that later becomes a leading treatment for bipolar disorder.
- 1996-98 – Norvir, a protease inhibitor drug for HIV/AIDS is launched as well as the beginning of the company’s diabetes work. Glucerna shakes and snack bars were then formulated for people with diabetes.
- 2006 – Abbott Diabetes Care is created through TheraSense, a leading blood glucose monitoring business.
The company hopes to expand on their success in the near future.
Areas of expertise
Abbott has many areas of development aside from diabetes. This expertise helps to advance medical science, enabling people to live healthier lives.
- Animal Health – Producing treatments and foods for the well-being of animals.
- Hematology – The analysis of components in the blood as part of diagnosing diseases such as HIV and cancer.
- Immunodiagnostics and Clinical Chemistry – The production of various tests for hospitals, labs and clinics and research for immunizations.
- Molecular – The analysis of DNA, RNA and proteins at molecular level in order to detect subtle changes in patient’s genes for better management of chronic diseases.
- Oncology – Investment research to discover less toxic therapies than are currently available for various cancers.
- Pain Care – Research into pain medications by the study of brain responses.
- Vascular – Advancing the treatment of vascular disease
The company’s revenue in 2010 was $35.2 billion with $3.7 billion being invested into research and development.
There are currently 350 clinical trials under way with 7,000 scientists working across the company’s ten research and development centers.
The hope is to produce more than 20 next-generation products throughout 2011 and more than 75 over the next five years.