GLOBAL SUSTAINABILITY REPORT 2016 - Abbott Laboratories
GLOBALSUSTAINABILITYREPORT 2016
OUR BUSINESSAPPROACHPRIORITIESTRANSPARENCY AND REPORTINGCONTENTSEMPOWERING PEOPLE TOLIVE FULL AND HEALTHY LIVESVALUING OUR PEOPLE5119A DIVERSE, INCLUSIVE WORKPLACE524 ROVIDING TRAINING AND RESOURCESPFOR HEALTHCARE PRACTITIONERS20EMPLOYEE DEVELOPMENT ANDTALENT MANAGEMENT54NUTRITION5EMPOWERING CONSUMERS21COMPENSATION AND BENEFITS56MEDICAL DEVICES5INSPIRING FULLER, HEALTHIER LIVES21WORK-LIFE HARMONY57DIAGNOSTICS5EMPLOYEE SAFETY24HUMAN RIGHTS58ESTABLISHED PHARMACEUTICALS5HEALTH AND WELLNESS26LISTENING TO OUR EMPLOYEES58APPROACH6OPERATING SUSTAINABLYAND RESPONSIBLY29PRODUCT QUALITY AND SAFETY59ENSURING QUALITY AND SAFETY60SUSTAINABILITY AT ABBOTT7SAFEGUARDING THE ENVIRONMENT30PROTECTING AUTHENTICITY647ENVIRONMENT, HEALTH AND SAFETYMANAGEMENT OVERSIGHT32MAINTAINING BUSINESS CONTINUITY65ADDRESSING GLOBAL CLIMATE CHANGE35CYBERSECURITY65A COMPREHENSIVE WATER STRATEGY39WASTE MANAGEMENT41PROMOTING ETHICS AND INTEGRITY66PRODUCT STEWARDSHIP42OUR EFFECTIVE COMPLIANCE PROGRAM67ENVIRONMENTAL SUSTAINABILITYIN OUR COMMUNITIESCOMBATING CORRUPTION AND BRIBERY7044PUBLIC POLICY ENGAGEMENT70SUPPLY CHAIN EXCELLENCE45EMBEDDING OUR ONEPROCUREMENT STRATEGY46TRANSPARENCYAND REPORTING71SOCIAL IMPACTS IN THE SUPPLY CHAIN47SCOPE OF REPORTING72ENVIRONMENTAL IMPACTSIN THE SUPPLY CHAIN47FEEDBACK ON OUR REPORTING72STRENGTHENING LOCAL SUPPLY CHAINS48TRANSPARENCY ON POLICIES72SUPPLIER DIVERSITY49EXTERNAL ASSURANCE73AWARDS AND RECOGNITION73METRICS74FROM OUR CHAIRMAN AND CEOOUR BUSINESSHOW ABBOTT’S SUSTAINABILITY HELPSPEOPLE LIVE HEALTHIER LIVES3SUSTAINABILITY MANAGEMENTAND GOVERNANCE8ENGAGING OUR STAKEHOLDERS9PRIORITIES10INNOVATING SOLUTIONSAND SYSTEMS FOR FULLER,HEALTHIER LIVES11DEVELOPING THE INNOVATIONSPEOPLE NEED12INNOVATION IN DELIVERY MODELSAND INFRASTRUCTUREIMPROVING THE ACCESSIBILITY ANDAFFORDABILITY OF HEALTHCARE1315
OUR BUSINESSAPPROACHPRIORITIESTRANSPARENCY AND REPORTINGFROM OUR CHAIRMAN AND CEODEAR FELLOW STAKEHOLDER,What does it mean to be a citizen? At Abbott, we believeit means helping to create the kind of communitythat we ourselves wish to live in: one with a healthyenvironment, in which fellow citizens help one anotherlive their best lives, and where they can do useful,beneficial and fulfilling work. And to us, as a globalcompany, that community is the world itself.MILES D. WHITECHAIRMAN AND CHIEF EXECUTIVE OFFICERThis report details the many ways we bring our trustand commitment as citizens to life, working to helpaddress some of the world’s biggest challenges.First and foremost, always, is the work we do — bringingpeople new and better technologies to help themlive fuller, healthier lives. It’s a privilege to serve thismission, and it suffuses all of our actions as a company.We advanced this work in 2016 by adding new R&Dfacilities in Brazil and China, helping us to develop newsolutions specifically targeted to meet differing regionalneeds around the world.We work to create sustainable business solutions thatbenefit not just Abbott and the people who use ourproducts, but the broader community as well. Forinstance, when we built a new nutritional products plantin India, suppliers weren’t able to provide enough milkthat met our high quality standards. So, we’re workingtogether with our supplier and nonprofit partners toreach up to 1,500 smallholder dairy farmers, providingthem training and resources to raise both their outputand quality standards. This builds a sustainable systemthat helps local communities thrive, consumersthroughout India to receive high-quality nutrition andAbbott to better serve a large national market.SUSTAINABILITY REPORT 2016Our business is about improving people’s lives; to us,that clearly implies vigorous environmental protection.In 2016 alone, we implemented over 130 projects atAbbott locations around the world to improve waste,water and energy efficiencies to reduce our footprintand advance sustainability in our communities.One example: a water conservation project at oneof our facilities in California recycles water frommanufacturing for use in the site’s cooling towers andirrigation system, reducing fresh water consumption atthe site by 60 percent.And we remain committed to innovative and effectivephilanthropic efforts, such as working with PATH, aninternational nonprofit organization, to improve itsUltra Rice formulation technology, which transformsa bowl of regular rice into a micronutrient-rich meal.Our nutrition scientists helped make Ultra Rice morenutritious at a lower cost, to deliver the greatest benefitto the most people.In 2016, these and our other efforts earned us inclusionin the Dow Jones Sustainability Indices for the 12thconsecutive year, the last four as Global Industry GroupLeader.We at Abbott are proud to be contributing citizens of theglobal community of which we’re part. Thank you foryour interest in our sustainability work.Sincerely,MILES D. WHITE3
OUR BUSINESSAPPROACHPRIORITIESTRANSPARENCY AND REPORTINGOUR BUSINESSIN THIS SEC T ION5NUTRITION From infants to the elderly, we offer sciencebased nutrition products to make every stageof life a healthy one.5 MEDICAL DEVICES Our advanced medical devices enablepeople to live their lives better andhealthier every day.SUSTAINABILITY REPORT 20165DIAGNOSTICS Our innovative technologies providehealthcare professionals the informationthey need to make the best treatmentdecisions, faster.5 ESTABLISHEDPHARMACEUTICALS We offer high-quality, affordable andtrusted branded generic medicines thattreat some of the world’s most pervasivehealth conditions.Abbott is a globally diversified healthcarecompany, devoted to improving lifethrough the development of productsand technologies that span the breadth ofhealthcare. Approximately 94,000 Abbottpeople carry out our mission, reachingmore than 150 countries.Abbott has four core businesses, eachfocused on advancing innovations thatprovide better options and outcomes forpeople in pursuit of healthier lives.4
OUR BUSINESS 8.5 BILLIONSPENT WITH DIRECT SUPPLIERS 1.5 BILLIONRETURNED IN DIVIDENDSTO SHAREHOLDERS 1.4 BILLIONINVESTED IN R&D 20.9 BILLIONNET SALES WORLDWIDEAPPROACHPRIORITIESTRANSPARENCY AND REPORTINGAbbott is a globally diversified healthcare company,headquartered in north suburban Chicago, which iscommitted to helping people live their best possiblelives through the power of health. Our business hasbrought new products and technologies to marketfor almost 130 years, creating more possibilities formore people at all stages of life. Today, 94,000 of us areworking to help people live not just longer, but better,in the more than 150 countries we serve.We have four major businesses, each focused onadvancing innovations that provide better options andoutcomes for people in pursuit of healthier lives. Thebreadth and balance of our product portfolio let Abbotthelp more people, in more places, and give us increasedstability in an ever-changing world.We deliver results for patients, consumers, healthcareprofessionals, employees and shareholders, and wework to continually invest, innovate and introducenew products that are changing the practice ofhealthcare. In 2016, we invested 1.4 billion in researchand development. Additionally, Abbott and ourphilanthropic foundation, the Abbott Fund, contributednearly 37 million in philanthropic grants, productdonations and patient assistance.NUTRITIONAbbott understands that proper nutrition is thefoundation for full and healthy lives. That’s why wedevelop science-based nutrition products for peopleof all ages. With a focus on consumers and healthcareprofessionals, Abbott develops products that helpbabies and children grow, keep bodies strong andactive, and support the unique nutrition needs ofindividuals with chronic illnesses. We work to makeevery stage of life a healthy one.SUSTAINABILITY REPORT 2016MEDICAL DEVICESMore advanced medical devices mean faster, moreeffective and less invasive solutions. Whether it’sglucose monitoring systems, innovative therapies fortreating heart disease, or products that help people withchronic pain or movement disorders, our medical devicetechnologies are designed to help people live better andhealthier lives. As the global population ages and theincidence of chronic diseases increases, we’re workingto help more people, in more places, than ever before.During 2016, Abbott announced the acquisition ofSt. Jude Medical, a leading medical device company withexpertise and a track record of breakthrough innovationin cardiovascular disease and neuromodulation. Thecombination of Abbott and St. Jude establishes ourbusiness as a clear market leader in cardiovascularmedical devices, with one of the industry’s strongest newproduct pipelines. Also during the year, we announcedthe sale of Abbott Medical Optics (AMO), our divisiondedicated to vision and eye health, to Johnson & Johnson.DIAGNOSTICSOur innovative instruments and tests help diagnoseand monitor a range of health conditions with speed,accuracy and efficiency. Our diagnostics solutions rangefrom automated immunodiagnostics systems and bloodanalyzers to sophisticated molecular diagnostics andpoint-of-care devices. They are designed to deliverinformation that helps improve decision making andpatient care across the entire healthcare system.ESTABLISHED PHARMACEUTICALSWe offer high-quality, affordable and trusted brandedgeneric medicines that help millions of people aroundthe world lead healthier lives. Through such productenhancements as new formulations, delivery methodsand packaging, we tailor our offerings to address thespecific needs of the regions we serve.5
OUR BUSINESSAPPROACHPRIORITIESTRANSPARENCY AND REPORTINGAPPROACHIN THIS SEC T ION7SUSTAINABILITY AT ABBOTT Our sustainability strategy focuses on theareas where opportunities for our businessintersect with positive social impact: We aim toachieve sustainable growth, deliver innovativesolutions and build stronger communities tohelp more people live their best lives.7 HOW ABBOTT’SSUSTAINABILITY HELPS PEOPLELIVE HEALTHIER LIVES Abbott helps people live fuller lives byinnovating to help them get healthy andstay healthy by empowering healthcarepractitioners, patients and consumers througheducation and by operating responsibly.SUSTAINABILITY REPORT 20168 SUSTAINABILITYMANAGEMENT ANDGOVERNANCE Our approach to sustainabilitymanagement and governance is focusedon integrating sustainability with ourcore business strategy.9 ENGAGING OURSTAKEHOLDERSAbbott is in the business of life. We believethat good health is not just about treatingan illness or managing a medical condition.It’s about supporting people’s health as ifit were our own, so they can live their bestlives. This belief in the power of healthinforms our approach to sustainability. Listening to our stakeholders is vital toour success as a business and to ourprogress as a global citizen.6
OUR BUSINESSAPPROACHAt Abbott, we’re all about helping you live the bestlife you can through good health. We keep your hearthealthy, nourish your body at every stage of life, helpyou feel and move better, and bring you information,medicines and breakthroughs to manage your health.Our business is built around delivering innovativesolutions that can push healthcare further, sharingknowledge and empowering more people to achievetheir potential.Being a responsible, sustainable and inclusive businessis an essential foundation for helping people live fuller,healthier lives. We focus on operating responsibly;preserving healthy living environments; and earningtrust by doing the right things, for the long term, forthe benefit of everyone who relies on our products andservices. At the same time, we work hard to maximizethe impact of our business in creating strongercommunities around the world.SUSTAINABILITY AT ABBOTTThe goals of our sustainability strategy are to achievesustainable growth, deliver innovative solutions andbuild stronger communities to help more people livetheir best lives. In order to focus our efforts in the areaswhere we can have the greatest possible impact, wemust understand people’s changing healthcare needs,as well as the most important environmental, social andgovernance factors affecting our business.MATERIALITY ANALYSISWe partnered with the external agency, CorporateCitizenship, to undertake a materiality assessmentto identify and prioritize our most importantenvironmental, social and governance (ESG) topics.This involved rigorously assessing what matters toour stakeholders and what is relevant for commercialsuccess in our markets. The topics that emerged fromthe process are those that can most significantly impactSUSTAINABILITY REPORT 2016PRIORITIESTRANSPARENCY AND REPORTINGthe long-term success and viability of our business. Theywill inform our sustainability priorities over the comingmonths and years and act as valuable guideposts to ouropportunities and challenges.THE PROCESSWe undertook a three-step process:1. We conducted extensive research to identify theeconomic, governance, environmental and societaltopics relevant to Abbott, our stakeholders and thebroader healthcare industry.2. We interviewed external experts in sustainability,environmental management, healthcare and publicpolicy and invited them to prioritize these topicsbased on their significance and potential impactrelative to our business. We also used the expertiseof our Global Citizenship Advisory Council — a coregroup of independent expert advisors with a broadknowledge of corporate responsibility — to guidethe process.3. We interviewed senior leaders across Abbottto identify topics that would have the greatestpotential impact on the long-term viabilityof our business.Through this process, we identified a preliminary list of20 ESG topics that are of material importance to Abbott,our industry and our priority stakeholders. We arecurrently working on building these into a materialitymatrix that identifies the importance of each topic,its potential impact on our business and our degree ofinfluence over the topic. In 2017, we plan to update thematrix to reflect the changing profile of our businessfollowing the acquisition of St. Jude.The 20 areas identified for potential inclusion in themateriality matrix are as follows: Affordability Climate change Corruption and bribery Demographic shifts Disruptive technologies Diversity Healthcare infrastructure Malnutrition Occupational health and safety Patient and consumer empowerment Political instability Product quality and safety R&D and product pipeline Resource scarcity Responsible marketing Rise of noncommunicable diseases Supply chain resilience Talent management Transparency Water managementHOW ABBOTT’S SUSTAINABILITY HELPSPEOPLE LIVE HEALTHIER LIVESThe way that we report on our sustainability effortsreflects how our business helps people live full,healthy lives.Abbott is committed to innovating to help people gethealthy and stay healthy at all stages of life. We innovatenew products to meet changing healthcare needs anddevelop new business models that create shared valuefor our communities and new systems that support thedelivery of healthcare to those who need it most.Knowledge is the essential foundation for healthierlives. Abbott works to empower healthcare7
OUR BUSINESSAPPROACHpractitioners, patients, consumers and our ownemployees. We share our expertise about new researchand new health solutions, market our productsresponsibly, and empower people to make informedchoices about healthcare and nutrition.Operating sustainably and responsibly is the bedrockof our business’s positive impact. We earn trust forour brand and products through the highest standardsof quality and safety, ethics, and integrity. We protect thehealth and well-being of our employees while operatingaward-winning programs to help them fulfill theirpotential. We work to promote and preserve healthyliving environments by reducing our environmentalimpact, mitigating the effects of climate change andsafeguarding clean water resources. We work closelywith our suppliers to apply the highest standards ofenvironmental and social responsibility throughout oursupply chain, including the protection of human rights.SUSTAINABILITY MANAGEMENTAND GOVERNANCEOur commitment to good citizenship begins at thetop. Our sustainability efforts are led by our board ofdirectors and senior management. The Public PolicyCommittee of our board of directors is responsiblefor the review and evaluation of Abbott’s policies andpractices with respect to social responsibility.The sustainability team has lead responsibility forimplementing our sustainability strategy. Thisdepartment works with our four major businesses, keyfunctional areas and affiliates around the world toensure that we consistently deliver on our sustainabilityambitions. The sustainability team reports to ourSenior Vice President, Chief Marketing and ExternalAffairs Officer, who in turn reports directly to ourChairman and CEO.SUSTAINABILITY REPORT 2016PRIORITIESTRANSPARENCY AND REPORTINGWe are committed to embedding our citizenshipstrategy ever more closely within our core businessstrategy. Our cross-functional Sustainability WorkingGroup leads these integration efforts, while alsooverseeing the reporting of our financial, social andenvironmental performance. The team includesrepresentatives from corporate purchasing; globalenvironment, health and safety; office of ethics andcompliance; quality and regulatory affairs; humanresources; supply chain; research and development;investor relations; global marketing organization;government affairs; and commercial operations. Theteam also includes representatives from our affiliateoperations in different countries.Several of our country operations — including China,India, Ireland and Russia — have formed their own local,cross-functional sustainability working groups, whichare responsible for embedding responsible businesspractices throughout the organization and drivingspecific stakeholder engagement initiatives appropriateto local needs.In addition, the following committees and workinggroups play an important role in our citizenshipgovernance process:Global Operations Council – This body overseesthe strategy for all Abbott operations (manufacturing,supply chain, engineering and environment, health andsafety) and deploys resources to where they are neededbased on internal assessment, risk profiles and industrybest practices. For more information, please see theEnvironment, Health and Safety Management Oversightsection of this report.Abbott’s policies and practices with respect to socialresponsibility.Business Conduct Committee of the Board ofDirectors – Comprised of business heads, thiscommittee oversees implementation of our ethics andcompliance programs.Executive Inclusion Council – Led by our Chairmanand CEO, this council oversees our diversity andinclusion initiatives.We also work externally with our Global CitizenshipAdvisory Council (GCAC), a core group of independentexpert advisors with broad knowledge of corporateresponsibility. Members of the GCAC provide guidanceon strategic issues, identifying opportunities andadvising on risks across our value chain. They include:Margaret FlahertySenior Advisor, FSG, and Professorat the Business School LausanneDavid LoganCo-Founding Director, Corporate CitizenshipJane NelsonSenior Fellow and Director of CSR Initiatives,Harvard Kennedy SchoolDavid VidalEmeritus Fellow, The Conference BoardPublic Policy Committee of the Board of Directors –Comprised solely of independent directors, thiscommittee’s charter includes reviewing and evaluating8
OUR BUSINESSAPPROACHENGAGING OUR STAKEHOLDERSAbbott is an active participant in the global dialogueon health, believing that good health opens up life’spossibilities. We know that listening to our stakeholdersand responding with relevant, local solutions that meetpeople’s changing needs and tackle the world’s mostimportant health challenges are vital to our successas a business.We work to develop solutions that are meaningful topeople, wherever they are in the world. Stakeholderinsights help us understand, anticipate and stay ahead ofglobal health and economic trends, so that we can adaptour business to help people and have the most impact.At Abbott, we value the trusted partnerships wehave built over the years with government officials,healthcare professionals, educational institutions andnongovernmental organizations. We have a definedprocess of stakeholder engagement that guides Abbottleaders to ensure that we gather insights from allrelevant people across the different countries inwhich we operate. In this way, we are able to engageand offer solutions that create real and lasting changein people’s lives. These partnerships lead to healthiercommunities, while at the same time helping to createnew economic opportunities for people in developedand emerging countries.PRIORITIESTRANSPARENCY AND REPORTINGOur Net Promoter Score (NPS) is an externallyrecognized metric for customer satisfaction, and we seeit as an important measure of our success in meetingour customers’ needs. Our diagnostics business hasincreased its NPS from 32.1 in 2010 to 53.2 in 2016.STARTING A GLOBAL CONVERSATIONDoes living fully look the same to an accountant inShanghai as it does to an architect in New Delhi or astreet artist in São Paulo? What about a factory workerin Detroit or a new mother in Berlin? We’ve beenexploring what it means to live a healthy, full life andsharing what it looks like through our online site,lifetothefullest.abbott, and our global social mediachannels.It’s all about sparking and sharing a global conversationwith consumers. Through online surveys, social mediaand online events, nearly 2 million people from aroundthe world told us what living a full life looks like to them.They told us what — from family to success, from givingto health — makes their lives fuller and happier. A fulllife means different things to us all, but good health isthe foundation. Every day and around the world, we’reputting our scientific leadership and innovation to workto help people live their best, healthiest lives. That’s whatinspires our work every day and keeps us pushing fortomorrow’s breakthroughs.SUPPORTING OUR CUSTOMERSProviding our customers with clear channels ofcommunication is an important element in our abilityto support them and help meet their healthcare needs.We offer customers a number of different ways toconnect with us around the clock, whether online,through social media, over the phone or throughthe mail. For our Similac and PediaSure nutritionproducts, for example, we operate dedicated socialchannels and a toll-free hotline, providing customersupport and answering questions.SUSTAINABILITY REPORT 20169
OUR BUSINESSAPPROACHPRIORITIESTRANSPARENCY AND REPORTINGPRIORITIESIN THIS SEC T ION11 INNOVATING SOLUTIONSAND SYSTEMS FOR FULLER,HEALTHIER LIVES29 OPERATING SUSTAINABLYAND RESPONSIBLYThe way we report on our sustainabilityefforts reflects how our business helpspeople live full, healthy lives.19 EMPOWERING PEOPLE TO LIVEFULL AND HEALTHY LIVESSUSTAINABILITY REPORT 201610
OUR BUSINESSAPPROACHPRIORITIESTRANSPARENCY AND REPORTINGINNOVATING SOLUTIONS ANDSYSTEMS FOR FULLER, HEALTHIER LIVESIN THIS SEC T ION12 DEVELOPING THEINNOVATIONS PEOPLE NEED We strive to make a lasting impact on humanhealth by designing specific products to meetemerging needs and addressing the challengespeople face every day.13 INNOVATION INDELIVERY MODELS ANDINFRASTRUCTURE We develop innovative new approachesfor sharing data, improving diagnosis anddelivering healthcare, which help to improvethe capacity of healthcare systems worldwide.SUSTAINABILITY REPORT 201615 IMPROVING THEACCESSIBILITY ANDAFFORDABILITY OFHEALTHCARE Innovation has a key role to play in ourefforts to keep healthcare affordable andaccessible for those who need it most.Abbott is committed to innovating to helppeople get healthy and stay healthy, at allstages of life. We innovate new productsto meet changing healthcare needs andemerging healthcare challenges, newapproaches that ensure the affordabilityand accessibility of healthcare and newsystems that help to deliver it to thosewho need it most.11
OUR BUSINESSAPPROACHAbbott is in the business of life, and the business oflife is also the business of innovation. To enable fuller,healthier lives, we must constantly innovate to meetchanging needs and emerging challenges. We must seekto understand practitioners, patients and consumersin every market where we operate, listening to theissues that they face and developing solutions thatcan help them. We must keep innovating in the waysthat our solutions are produced, packaged, pricedand distributed, ensuring that quality healthcare andnutrition can reach those who need it most.DEVELOPING THE INNOVATIONSPEOPLE NEEDThe human drive to explore new possibilities hassucceeded in raising living standards dramaticallyaround the world. With a growing population, longerlives, rapidly changing lifestyles and new healthcarechallenges, the need for innovation is constant.Abbott meets this challenge by focusing on deliveringthe highest possible quality of healthcare at every stageof the research and development process: Groundbreaking research to understand what thebody needs and to deliver the right solutions Innovative product design that helps people livelonger, more fulfilling lives The highest standards in healthcare solutions andpractices that ensure our products deliver the besthealth outcomesSUSTAINABILITY REPORT 2016PRIORITIESTRANSPARENCY AND REPORTINGThe innovations we launched in the last year are alreadychanging people’s lives by taking on cardiovasculardisease, diabetes and other conditions. We introduced aheart stent that dissolves after clearing a blocked arteryto help maintain the long-term natural movement ofblood vessels, an approach to glucose monitoring thatputs patients in control, and an infant formula that iscloser to breast milk than ever before.OUR INNOVATIONS IN 2016In 2016, Clarivate Analytics (formerly part of ThomsonReuters) named Abbott one of its Top 100 GlobalInnovators for the fourth consecutive year. Thisprestigious ranking recognizes businesses that advancescientific innovation across different industries, basedon their commitment to innovation, protecting ideasand commercializing inventions.Some of the most important life-enabling innovationsAbbott brought to healthcare practitioners and patientsin the last year include:FreeStyle Libre – An innovative glucose monitoringsystem for people with diabetes, FreeStyle Libre avoidsthe need for routine finger pricking to test glucoselevels, making it easier to monitor glucose levels aroundthe clock. For patients living with diabetes — who oftenavoid testing their glucose with the traditional fingerpricking method due to the pain and inconvenience —this can be life-changing. The FreeStyle Libre sensormonitors glucose levels every minute of the dayfor up to 14 days. It also provides a more completepicture of actionable glucose data that is visible to bothpatients and their doctors — making it far easier forthose with diabetes to take control of managing theircondition. The FreeStyle Libre system is currentlyavailable across 34 countries.AlinityTM – Diagnostic testing influences approximately70 percent of healthcare decisions. However, thisbuilding block of healthcare is under pressure as a resultof increased demand due to aging populations, thegrowing burden of managing chronic conditions andmanaging greater testing volumes on limited budgets.To help meet these and other challenges, Abbott’sresearch and development teams engaged withthousands of clinicians, scientists, lab technicians andhealthcare executives to create AlinityTM, an innovativenew family of harmonized instruments that Abbotthas designed to meet a range of diagnostic needs.Their common user interfaces, error-proof designand increased automation enable more efficiency andflexibility. The global launch is underway and will beexpanded further in 2017, elevating the role diagnosticsplays in clinical decision making and helping to deliverhigh-quality care to patients.Thyroxine – A healthy thyroid gland is critical forthe development of infants and children. When youngchildren are unable to produce the thyroid hormonenaturally, it can result in slow growth, intellectualdisability and developmental delays. Doctors typicallyprescribe thyroxine, an artificial form of the hormone,to treat such hypothyroidism. However, administeringthyroxine to children is difficult. Parents often crushtablets in milk to make it palatable — but the risks ofgetting the dose wrong are high with this approach.Abbott’s established pharmaceuticals division hasdeveloped a new oral-solution version of thyroxinefor India, with an easy-to-use dosing device thatimproves accuracy, avoids spillage and reducesproduct contamination. Ensuring that children canget the right amount of thyroxine has a big impact inmanaging this condition — and enabling them to leadfull and happy lives.12
OUR BUSINESSAPPROACH12 MOST IMPORTANT HEALTH INNOVATIONS OF 2016Popular Science magazine named FreeStyle Libre glucosemonitoring system among its 12 Most Important HealthInnovations of 2016.PRIORITIESTRANSPARENCY AND REPORTINGINVESTING INBREAKTHROUGHINNOVATIONSSEE INFOGRAPHICUNDERSTANDING HEALTHCARE NEEDSSuccessful innovation is founded on research —including research on understanding the changinghealthcare needs of people in different regions,markets and cultures. Abbott’s approach to researchand development (R&D) prioritizes factors such asdifferences in local taste and cultural preferences —something widely recognized when it comes to food,but often overlooked when it comes to medicine.By investing in local R&D facilities, we bring ourinnovation process closer to the people using ourproducts, and increase our ability to deliver solutions
donations and patient assistance. NUTRITION Abbott understands that proper nutrition is the foundation for full and healthy lives. That’s why we develop science-based nutrition products for people of all ages. With a focus on consumers and healthcare professionals, Abbott develops products that help babies and children grow, keep bodies .
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OUR VALUES Values are the foundation for building a meaningful corporate identity. Abbott is a company rooted in values and our core values of honesty, integrity and fairness describe a standard of behavior expected of every Abbott employee. Abbott has four differentiating values built on these core values that speak to the unique strengths that
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