Abbott Laboratories started with a simple goal: to create accurate and effective medications. Dr. Abbott didn’t have big labs or lots of employees. He began his work in the back of his small People’s Drug Store in Chicago. Through his continuous efforts, Abbott expanded globally and now operates in over 160 countries. It offers leading medical devices, nutritionals, diagnostics, and branded generic medicines. But how did Abbott’s journey bring them to India? How was Abbott India born?
Let’s explore the history of Abbott India Ltd today!
Abbott India Limited aims to deliver quality healthcare to the people of India through a mix of global and local products.
History of Abbot India
Did you know Abbott Laboratories’ story began all the way back in 1888?
Imagine walking through history to see how this small start in Chicago grew into a global company.
Curious about how Abbott made its way to India?
Let’s take a trip down memory lane and discover the history of Abbott India!
Abbot India Ltd- 11th Largest Pharmaceutical Company in India!
In 1888, a young physician named Dr. Wallace C. Abbott started making medicines in a small space behind his drug store in Chicago. These medicines were carefully formulated.
What was so special about his formulations?
He was using active ingredients from plants and herbs.
This marked the beginning of Abbott’s journey towards pioneering healthcare solutions.
By 1894, Abbott had grown into the Abbott Alkaloidal Company and expanded into medical publishing.
This growth fueled Abbott’s commitment to scientific pharmacy and innovative medical research.
Abbot Pharmaceuticals Lands in India
In 1907, Abbott expanded internationally, setting up offices in London, England, and Canada.
Their global journey continued, and by 1910, Abbott had made its way to India.
This marked Abbott’s fourth major market after the U.S., Canada, and the UK.
Since 1910, Abbott has been dedicated to improving healthcare in India.
Headquartered in Mumbai, Abbott India Limited focuses on providing high-quality medicines. They serve across various therapeutic areas, such as women’s health, cardiology, and metabolic disorders.
Milestones in India
Abbott India Limited believes in blending global expertise with local insights.
What’s their goal?
They aim to meet India’s healthcare needs at all costs!
Abbot India established a manufacturing presence in Goa in 1996 and introduced nutrition products in 1998.
This was followed by significant expansions in diabetes care and vascular health in 2006.
In 2010, Abbott celebrated a century of operations, marking a landmark in their commitment to healthcare.
They further strengthened their presence in India through strategic acquisitions, including Solvay Pharmaceuticals and Piramal Healthcare.
Investing in India’s Future
In 2012, Abbott opened a state-of-the-art nutrition R&D facility in Bengaluru. Two years later came another achievement.
The company inaugurated their first Greenfield nutrition plant in Jhagadia, Gujarat, to produce nutrition products locally.
In 2023, Abbott India introduced first of its kind, new vascular imaging platform in India. This technology combines special light with artificial intelligence to give doctors a clear view of blood flow and blockages in coronary arteries.
It helps them distinguish between different types of blockages and guides precise placement of stents. Unlike older methods, this new system provides detailed images quickly and helps doctors make better decisions to improve patient care.
Today, Abbott India continues to innovate and grow, driven by their mission to help people live healthier lives.
Consumers, patients, doctors, hospitals, blood banks and laboratories, Abbot India, continues to fulfil healthcare for all!
About Abbott Company
As they claim, Abbott is in the business of life. From nutritional products and diagnostics to pharmaceuticals and medical devices, Abbott India serves all. The company currently delivers a wide range of science-based solutions and medicines.
Abbott India is a subsidiary of Abbott Laboratories. It provides more than 400 branded generic medicines covering 80% of medical treatment areas in India.
Since 1910, Abbott has met its product needs through local facilities located in Himachal Pradesh and Goa!
Abbott India Board of Directors:
- Munir Shaikh – Chairman
- Swati Dalal – Managing Director
- Anisha Motwani – Independent Director
- Sudarshan Jain – Independent Director
- Shalini Kamath – Independent Director
- Ambati Venu – Non-Executive Director
- Kaiyomarz Marfatia – Non-Executive Director
- Mahadeo Karnik – Non-Executive Director
- Alison Davies – Non-Executive Director
Abbott India Products: Over 600 types of products across therapeutic categories such as women’s health, gastroenterology, cardiology, metabolic disorders, and primary care.
Abbott India Employee Strength: 14,000 professionals throughout India, ensuring comprehensive healthcare support.
Abbott India Market Position: It is the 11th largest pharmaceutical company in India with a market cap of ₹59,109 Cr. as of July 11th, 2024.
Abbott India Ltd Manufacturing: The company operates local production facilities in Baddi and Verna, supporting domestic healthcare needs.
Abbott India’s Commitment to Better Health and Education: CSR Initiatives 2023-24
Abbott India is focusing on improving healthcare and education across India this year:
- They’re helping SEWA improve healthcare in places like Gujarat and Rajasthan.
- They’re upgrading healthcare facilities and training workers in Jammu & Kashmir and other states.
- Abbott India Ltd promotes STEM education and health awareness in Maharashtra schools.
- Additionally, the company is currently providing timely diagnostic services in Varanasi to aid trauma patients.
These efforts aim to make a real difference in communities across the country.
FAQs| Abbott India Ltd.
The current CEO of Abbott Laboratories is Robert B. Ford.
Yes, Abbott Laboratories is an American multinational medical devices and healthcare company.
Yes, Abbott is a global company operating in more than 160 countries.
Abbott India Limited is a subsidiary of Abbott Laboratories and is listed in India. However, Abbott Laboratories, the parent company, is American.
Abbott is well-known for its medical devices, diagnostics, branded generic medicines, and nutritional products.
Source: abbott.in, screener.in
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