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Abbott Laboratories - ABT STOCK NEWS

Welcome to our dedicated page for Abbott Laboratories news (Ticker: ABT), a resource for investors and traders seeking the latest updates and insights on Abbott Laboratories stock.

Abbott Laboratories (NYSE: ABT) is a globally recognized American multinational company headquartered in Abbott Park, Illinois. Founded in 1888, Abbott has established itself as a leader in medical devices and health care. The company manufactures and markets a wide range of products, including cardiovascular and diabetes devices, adult and pediatric nutritional products, diagnostic equipment, testing kits, and branded generic drugs.

Abbott's product portfolio includes pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, nutritional liquids for adults, continuous glucose monitors, and immunoassays along with point-of-care diagnostic equipment. Approximately 60% of Abbott’s sales are derived from markets outside the United States, underlining its global reach and influence.

Recently, Abbott introduced the PROTALITY™ brand, a high-protein nutrition shake aimed at supporting weight loss while preserving muscle mass. This innovation reflects Abbott's commitment to addressing global health challenges such as obesity and muscle health. The company also continues to make strides in medical technology with advancements like the TriClip™ system for tricuspid valve repair, and the FreeStyle Libre continuous glucose monitoring systems, which have set new standards in diabetes management.

Abbott is not only focused on innovative product development but also on strategic partnerships and sustainability. The extension of their partnership with the Real Madrid Foundation, aimed at reducing childhood malnutrition and promoting healthy habits, is a testament to their commitment to global health improvements.

Financially, Abbott has demonstrated robust performance, as evidenced by its consistent dividend payouts and its inclusion in the S&P 500 Dividend Aristocrats Index. The company reported strong Q1 2024 results with significant growth in their core business segments, further supported by successful product launches and clinical innovations.

Abbott’s mission to help people live more fully at all stages of life drives their development of life-changing technologies across diagnostics, medical devices, nutritionals, and branded generic medicines. With a workforce of over 114,000 employees serving people in over 160 countries, Abbott continues to set benchmarks in the healthcare industry.

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Abbott has partnered with local organizations in Stockton, Calif. since 2019 to fight diabetes through a community-led management program. The initiative includes health screenings for over 1,400 residents, a 'food as medicine' program lowering HbA1c levels, and free transportation to medical appointments. Scholarships from the Abbott Fund support local healthcare students specializing in diabetes. Results indicate significant improvements in residents' health, with the program showing a decrease in HbA1c levels by 0.8% on average. The initiative demonstrates the power of community collaboration in addressing chronic diseases.

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Abbott (NYSE: ABT) has announced a global partnership with Medtronic to integrate Abbott's FreeStyle Libre continuous glucose monitoring (CGM) technology with Medtronic's automated insulin delivery (AID) and smart insulin pen systems. This collaboration aims to improve health outcomes and reduce the burden of decision-making for people with diabetes who use intensive insulin therapy.

The partnership involves developing a CGM sensor based on Abbott's advanced Libre technology, designed exclusively for Medtronic devices. This integration will enable automatic adjustments of insulin to maintain glucose levels within the desired range. The new CGM sensor will be developed by Abbott but sold by Medtronic.

This alliance marks Abbott's fourth partnership with major insulin delivery system developers, expanding choices for people worldwide to benefit from Libre technology connectivity. The collaboration targets the estimated 11 million people globally who require multiple daily insulin injections, including those with Type 1 and Type 2 diabetes.

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Cadrenal Therapeutics (Nasdaq: CVKD) has initiated discussions with Abbott (NYSE: ABT) regarding a planned pivotal study of tecarfarin in patients with recently implanted Left Ventricular Assist Devices (LVADs). Tecarfarin, a late-stage anticoagulant, received FDA Orphan Drug Designation in April 2024 for preventing blood clots and strokes in patients with implanted mechanical circulatory support devices. The collaboration focuses on improving anticoagulation treatment for HeartMate 3™ LVAD patients, currently the only LVAD available in the United States.

A recent analysis of the ARIES-HM3 study by Abbott highlighted that high-quality anticoagulation can further enhance outcomes with the HeartMate 3 LVAD. Prior clinical studies suggest that tecarfarin may provide improved anticoagulation quality, particularly in patients on multiple medications or with impaired renal function, both common in LVAD patients.

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Abbott (NYSE: ABT) and the National Association of Community Health Centers (NACHC) have launched the second year of their Innovation Incubator initiative to improve access to nutritious food and health in underserved communities. Eight community health centers across the U.S. will receive $30,000 each, along with expert guidance and training, to develop and test innovative solutions for integrating healthy food into clinical care.

The initiative aims to address food insecurity, which affects 12.8% of U.S. households, and its impact on chronic conditions like obesity, diabetes, and heart disease. Selected health centers will work on projects ranging from creating community gardens to providing customized nutrition for expectant mothers and people with chronic diseases. The results will be shared with 1,400 health centers nationwide, potentially benefiting over 31 million patients.

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Real Madrid, the 2023-2024 UEFA Champions League, Spanish Super Cup, and La Liga winners, will embark on their 23rd U.S. summer tour as part of the Soccer Champions Tour 2024. The tour includes three matches against top clubs:

1. July 31: Real Madrid vs. AC Milan at Soldier Field, Chicago
2. August 3: Real Madrid vs. FC Barcelona at MetLife Stadium, New Jersey
3. August 6: Real Madrid vs. Chelsea FC at Bank of America Stadium, Charlotte

As Health Sciences and Nutrition Partner of Real Madrid and Global Partner of the Real Madrid Foundation, Abbott is collaborating with the club to support children worldwide through nutrition education and science-based innovation. Their joint initiative, "Beat Malnutrition," aims to raise awareness and reduce malnutrition globally.

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Abbott and its nonprofit partners are focusing on disaster resilience in communities most impacted by natural disasters. Since 2006, Abbott has partnered with Feeding America and Direct Relief to prepare for hurricane season by providing:

1. 'Disaster Relief Packs' to food banks, containing nutrition products for 12,000 people this year.

2. 'Disaster Relief Modules' to 80 health clinics, serving over 2,000 people.

Abbott is now expanding beyond preparedness to build year-round resilience through targeted strategies in New Orleans, Dallas, Orlando, and Puerto Rico. This includes grants for infrastructure and systems at food banks and community health clinics. Over the past decade, Abbott and the Abbott Fund have provided more than $50 million in funding and products for disaster relief efforts worldwide.

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Abbott (NYSE: ABT) reported strong financial results for Q2 2024, with total sales of $10.4 billion, marking a 4.0% reported sales growth and 9.3% organic growth, driven by a double-digit rise in Medical Devices sales. GAAP diluted EPS was $0.74, while adjusted EPS reached $1.14. Abbott raised its full-year 2024 EPS guidance to $3.30-$3.40 on a GAAP basis and $4.61-$4.71 adjusted. The company also anticipates 9.5%-10.0% organic sales growth, excluding COVID-19 testing sales.

Key approvals include the FDA's nod for the Esprit™ BTK system and two new over-the-counter continuous glucose monitoring systems. Additionally, Abbott received CE Mark for the AVEIR® dual chamber leadless pacemaker system. Global Medical Devices sales surged by 10.2%, with notable growth in Diabetes Care and Electrophysiology segments. Abbott's robust R&D pipeline contributed significantly, with 10 new growth opportunities announced in the first half of 2024.

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Abbott (NYSE: ABT) is set to release its second-quarter 2024 financial results on Thursday, July 18, before the market opens.

The company will host a live webcast of the earnings conference call at 8 a.m. Central time (9 a.m. Eastern), which will be accessible on Abbott's Investor Relations website.

An archived edition of the call will also be available later the same day.

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Abbott's 2023 Global Sustainability Report highlights the company's progress towards its 2030 Sustainability Plan goals. The report focuses on improving global health access and equity, reducing environmental impact, and fostering workforce development.

Key achievements include the introduction of the AVEIR DR leadless pacemaker, collaborations to expand biosimilar medicines in emerging markets, and emergency medicine initiatives in Tanzania. Environmental efforts saw a 7% reduction in emissions, a 3% decrease in water use, and high waste diversion rates. Workforce initiatives aim to double the targets for job opportunities and STEM training by 2030.

For detailed information, readers are encouraged to review the full report.

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Abbott and the National Association of Community Health Centers (NACHC) have launched the second year of the Innovation Incubator initiative to improve access to nutritious food in underinvested communities. Eight health centers across the U.S. will receive $30,000 each to develop and test innovative solutions aimed at integrating healthy food into clinical care. These centers will focus on addressing chronic conditions like obesity, diabetes, and heart disease through nutrition. The results will be shared with 1,400 health centers, benefiting over 31 million patients. Projects range from creating community gardens to providing customized nutrition for expectant mothers and individuals with chronic diseases. This initiative builds on the success of the 2023 program, which focused on digital health literacy and reached more than 45,000 people.

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FAQ

What is the current stock price of Abbott Laboratories (ABT)?

The current stock price of Abbott Laboratories (ABT) is $114.23 as of December 20, 2024.

What is the market cap of Abbott Laboratories (ABT)?

The market cap of Abbott Laboratories (ABT) is approximately 196.0B.

What does Abbott Laboratories specialize in?

Abbott Laboratories specializes in cardiovascular and diabetes devices, adult and pediatric nutritional products, diagnostic equipment, testing kits, and branded generic drugs.

What are some of Abbott’s recent product launches?

Recent product launches include the PROTALITY™ high-protein nutrition shake and the TriClip™ system for tricuspid valve repair.

How much of Abbott’s sales are generated outside the United States?

Approximately 60% of Abbott’s sales are generated outside the United States.

What is Abbott’s PROTALITY™ brand?

The PROTALITY™ brand is a high-protein nutrition shake designed to support weight loss while preserving muscle mass, addressing global health challenges like obesity.

How does Abbott support global health initiatives?

Abbott supports global health initiatives through strategic partnerships like their collaboration with the Real Madrid Foundation to reduce childhood malnutrition and promote healthy habits.

What is Abbott’s financial performance like?

Abbott has demonstrated robust financial performance, with strong Q1 2024 results and a consistent track record of dividend payouts, evidenced by its inclusion in the S&P 500 Dividend Aristocrats Index.

How many employees does Abbott have?

Abbott employs over 114,000 people worldwide.

Which continuous glucose monitoring system is Abbott known for?

Abbott is known for its FreeStyle Libre continuous glucose monitoring systems, which are widely recognized for their innovation in diabetes management.

What is Abbott's mission?

Abbott's mission is to help people live more fully at all stages of life by developing life-changing technologies spanning diagnostics, medical devices, nutritionals, and branded generic medicines.

In how many countries does Abbott operate?

Abbott operates in more than 160 countries worldwide.

Abbott Laboratories

NYSE:ABT

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ABT Stock Data

196.01B
1.72B
0.53%
77.7%
0.69%
Medical Devices
Pharmaceutical Preparations
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United States of America
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