A history of Abbott and AbbVie

This month, we explore the 125-year-old history of Abbott Laboratories and its most significant milestone to date – the creation of its own independent company, AbbVie.

In 1888, a 30-year-old man named Dr Wallace C. Abbott founded the Abbott Alkaloidal Company. Dr Abbott had only graduated from the University of Michigan three years previously, and was a practicing physician and owner of a drug store. Using the active part of a medicinal plant, known as the “alkaloid”, he formed tiny pills called “Dosimetric granules”. These provided more accurate and effective dosing for his patients than any other treatments available at the time. The company’s first year sales came to a total of US $2000.

As the demand for these granules increased, so did Abbott Alkaloidal Company, and one of the world’s most broad-based healthcare companies was born. By 1910, there were over 700 new products in the Abbott catalogue. The company had expanded too, with branches in New York, San Francisco, Seattle and Toronto, as well as a European agency in London and business in India.

To reflect the company’s growing research orientation and move into synthetic compounds, the name was changed to Abbott Laboratories in 1915.

During World War 1, Abbott’s antiseptic agent, chlorazene, was used to clean wounds on the battlefields.

See on www.pharmaphorum.com

From  Pharmaceutical Industry digital vision

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