ABBOTT LABORATORIES (NYSE:ABT) is a leading diversified healthcare company operating in the following areas: pharmaceuticals, diagnostics, nutritionals and medical products.
On January 1, 2013, Abbott consummated the separation of its research based pharmaceuticals business and distributed 100% of the outstanding shares of common stock of AbbVie to the holders of record of Abbott common shares that were issued and outstanding on December 12, 2012. Each Abbot shareholder received one share of AbbVie common stock for every share of Abbot common stock held. The Abbott shareholder also received cash in lieu of any fractional share of AbbVie common stock resulting from the distribution.
Abbott common shares now trade under ticker symbol "ABT" and shares of AbbVie common stock trade under ticker symbol "ABBV". The new Abbott is a diversified global healthcare company with several leading franchises. In 2012, the company generated sales of $21.5 billion from these four diverse business units: nutritionals 30%, medical products 25%, established pharmaceuticals 24% and diagnostics 20%.
Abbott has leading market share positions in several businesses including the number one market share in:
1. Worldwide Adult Nutrition and U.S. Pediatric Nutrition
2. Amino Acid Immunoassay Diagnostics and Blood Screening
3. Drug Eluting Stents and for
Furthermore, Abbott, in addition to a broad portfolio of products and services, is geographically diverse with 29% of sales in the U.S., 30% in other developed markets and 40% in the more rapidly growing emerging markets. The current Chairman and CEO, Miles D. White, will continue in these positions for the new Abbott, focused upon several initiatives including expanding the company’s products into new geographic markets, developing new technologies and focusing on accelerating margin expansion and improving free cash flow.
The new Abbott generated 2013 revenue through its four segments of $21.9 billion with earnings per share of $2.01. We continue to hold the new Abbott and believe its product and geographic diversity, combined with its leadership positions in several areas, will enable the company to continue to grow and prosper.