Abbott Laboratories

American multinational medical devices and health care company that also operates a major nutritional products division, maker of Similac infant formula and Ensure nutritional drinks.

Abbott was founded in 1888 by Dr. Wallace Calvin Abbott in Ravenswood, Illinois (now part of Chicago). Dr. Abbott was a physician frustrated by the inconsistent quality of pharmaceutical dosimetric granules sold by commercial druggists. He began manufacturing his own reliable dosimetric granules and built the company from this foundation.

Abbott went public in 1929 and grew through acquisitions and organic expansion across diagnostics, pharmaceutical, and hospital supply categories throughout the twentieth century. The company spun off its pharmaceutical and nutritional products as AbbVie in 2013, retaining the medical devices, diagnostics, and nutrition segments.

The 2022 infant formula shortage was one of the most significant crises in Abbott's recent history. The voluntary recall of Similac, Alimentum, and EleCare products manufactured at the Sturgis, Michigan facility, following FDA findings of conditions that could allow bacterial contamination, led to months of product shortages. Abbott invested in facility remediation and new production capacity following the recall.

Abbott has committed to reducing greenhouse gas emissions and has set science-based targets covering Scope 1, 2, and 3 emissions. The company is also invested in reducing single-use plastic in its product packaging and in responsible sourcing of ingredients for its nutrition products.