2024 ANNUAL REPORT
Throughout our long history, our focus has never veered from improving the health of people who count on us. We have continuously reinvented Abbott to meet the needs of every age and stage of a person's life.
We believe the best medical products are ones that help the most people. We're well-practiced in delivering through the complexity required to maximize access and affordability across our businesses in branded-generic pharmaceuticals, nutrition, diagnostics and medical devices.
Through its presence in diversified business segments, Abbott has continued to deliver consistent growth and shareholder returns. We're strengthening the resilience of our company so that we can continue to shape the future of healthcare and help more people, in more places, lead fuller, healthier lives.
Table of Contents
02 Vision and Mission
04 Our Core Values
06 History of Major Events
08 Geographical Presence
09 Ownership and Group Structure
10 Corporate Information
11 Organizational Chart
12 Established Pharmaceuticals
14 Nutrition
16 Diagnostics
18 Diabetes Care
20 Key Brands
24 Product Launches
26 Awards and Recognitions
28 Significant factors effecting the external environment and the organization's response
30 Objectives, Strategy and Resource
Allocation Plans
32 Key resources and capabilities of the company which provides sustainable competitive advantage
Our Vision
33 SWOT Analysis
34 Risks and Opportunities
36 Key Risks & Opportunities
38 Sustainability and Corporate Social Responsibility
44 CEO's Message
46 Directors' Profiles
48 Corporate Governance
53 Salient Features of Terms of Reference of Board Committees
54 Board Committees Attendance
55 Gender Pay Gap Statement
56 Stakeholders Relationship and Engagement
57 Future Outlook
58 Review Report by the Chairman
59 Review Report by the Chairman (Urdu)
60 Directors' Report
71 Directors' Report (Urdu)
72 2024 Financial Report
To be the most admired healthcare company in Pakistan.
Our Mission
To deliver consistently superior products and services which contribute significantly to improve the quality of life of consumers.
Our Core Values
Our purpose as a business is clear: we help people live healthier, fuller lives through our life-changing products, solutions and technologies.
Four core values guide how we support this purpose every day.
PIONEERING
We see needs first and deliver game-changing solutions. We create new technologies and products to help people live fuller lives through better health, and we bring that same spirit of innovation to everything we do as a company.
ACHIEVING
We focus relentlessly on delivering for our stakeholders. Abbott is all about execution. Millions of people depend on us in vital ways. We're committed to honoring that trust.
CARING
We treat the people who depend on us as if they were our family. Dr. Abbott began our company to provide better care to his own patients. That spirit still guides everything we do.
ENDURING
We know that everything we do today should contribute to a stronger tomorrow. Because our work is so important to so many, it's up to us to ensure that this company keeps thriving. That's why we think and act for the long term. We intend to be here for the long-term, bringing all the benefits that Abbott creates to all the people who need them.
VALUES BUILD VALUE
Our diversified business model proved its power again in 2024. We grew organically across our businesses, focused on most important healthcare needs, balancing present and future.
History of Major Events
Dr. Abbott breaks ground for a new manufacturing facility in North Chicago, Illinois. This location will serve as the Company's headquarters for more than 40 years.
1920
1973
The global Abbott Diagnostics Division is formed to bring together the Company's diagnostic products and services.
Ensure, Abbott's first adult medical nutritional supplement, is introduced.
2001
Abbott acquires the pharmaceutical business of BASF, including the global operations of Knoll Pharmaceuticals. Vysis, Inc., a leading genomic disease management company, is also acquired.
Abbott Diabetes Care is created with the acquisition of Thera Sense Inc., a leading blood glucose monitoring business. Abbott also acquires EAS Inc., a leader in performance nutrition products.
2004
2010
Abbott separates into two leading healthcare companies, a diversified medical products company under the Abbott name and a research based pharmaceutical company, named AbbVie.
2014
Abbott acquires St. Jude Medical. The acquisition strengthens Abbott's presence in cardiovascular area, thus making Abbott a premier medical device Company. Abbott also acquires Alere, a company focusing on cardiometabolic, infectious disease and toxicology testing.
Abbott acquires Solvay Pharmaceuticals, the global pharmaceutical business of the Solvay Group and STARLIMS Technologies.
2013
Abbott acquires the control of CFR Pharmaceutical thereby establishing Abbott among top pharmaceutical companies in Latin America. Abbott also acquires control of Veropharm, a leading pharmaceutical manufacturer in Russia.
2017
Geographical Presence
- Global & Local Footprints
UNITED STATES, LATIN AMERICA AND CANADA
Illinois - Abbott Park - Head Office
Argentina Brazil Canada Chile Colombia Costa Rica Dominican Republic Ecuador
El Salvador Guatemala Mexico Peru Puerto Rico Trinidad and Tobago Uruguay
EUROPE
Albania Armenia Austria Azerbaijan Belarus Belgium Bosnia-Herzegovina Bulgaria
Croatia
Czech Republic Denmark Estonia Finland France Georgia Germany Greece Hungary Ireland Italy Kazakhstan Latvia Lithuania Moldova Netherlands Norway Poland Portugal
Republic of Serbia Romania
Russian Federation Slovakia
Slovenia Spain Sweden Switzerland Turkey Ukraine
United Kingdom Uzbekistan
MIDDLE EAST AND AFRICA
Algeria Egypt Israel Kuwait Lebanon Saudi Arabia South Africa Tunisia
United Arab Emirates
ASIA PACIFIC
Australia
China Hong Kong India Indonesia Japan Malaysia New Zealand Pakistan Philippines Singapore South Korea Taiwan Thailand Vietnam
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