Abbott Laboratories
Company History
Abbott Laboratories History: Founding, Growth & Key Milestones
Founded 1888 in Chicago, Illinois, USA
When was Abbott Laboratories founded?
Abbott Laboratories was founded in 1888 in Chicago, Illinois, USA by Dr. Wallace C. Abbott, making it 138 years old.
- Founded
- 1888
- Founding place
- Chicago, Illinois, USA
- Founders
- Dr. Wallace C. Abbott
- Headquarters today
- Abbott Park, Illinois, USA
- Milestones documented
- 12 (1888–2024)
- Current CEO
- Robert B. Ford
- Acquisitions
- 4
| Year | Event |
|---|---|
| 1888 | Company Founded |
| 1907 | International Expansion |
| 1929 | Public Offering |
| 1964 | Ross Laboratories Acquisition |
| 1985 | First HIV Blood Test |
| 2002 | Humira Approval |
| 2013 | AbbVie Spinoff |
| 2014 | CFR Pharmaceuticals Acquisition |
| 2016 | FreeStyle Libre Launch |
| 2017 | St. Jude Medical & Alere Acquisitions |
| 2020 | BinaxNOW COVID-19 Test |
| 2024 | Expanding Biowearables |
- Where was Abbott Laboratories founded?
- Abbott Laboratories was founded in Chicago, Illinois, USA in 1888. abbott.com
- Who founded Abbott Laboratories?
- Abbott Laboratories was founded by Dr. Wallace C. Abbott.
- When did Abbott Laboratories start?
- Abbott Laboratories was founded in 1888.
- How old is Abbott Laboratories?
- Abbott Laboratories is 138 years old as of 2026.
Founding Story
Founded in 1888 by practicing physician Dr. Wallace C. Abbott with $900 in capital, the company began in the back of a Chicago drug store formulating improved active alkaloid granules.
Founders
Dr. Wallace C. Abbott
A practicing physician and Chicago entrepreneur who founded Abbott Alkaloidal Company in 1888 to produce precise, reliable active alkaloid pharmaceutical granules.
Key Milestones
Company Founded
Dr. Wallace C. Abbott begins manufacturing alkaloid granules in the back of a Chicago pharmacy.
Source: abbott.comInternational Expansion
Abbott opens its first international operations in London, marking the beginning of global reach.
Source: abbott.comPublic Offering
Abbott Laboratories becomes a publicly traded company, listing its shares on the Chicago Stock Exchange.
Source: abbott.comRoss Laboratories Acquisition
Acquires Ross Laboratories, establishing Abbott as a major force in pediatric and adult nutrition (Similac, Ensure).
Source: abbott.comFirst HIV Blood Test
Abbott launches the world's first licensed HIV blood test, revolutionizing blood safety worldwide.
Source: abbott.comHumira Approval
FDA approves Humira (adalimumab), developed by Abbott scientists, which becomes the world's best-selling drug.
Source: abbott.comAbbVie Spinoff
Abbott separates its research-based pharmaceuticals business into AbbVie, creating two independent Fortune 200 industry leaders.
Source: abbott.comCFR Pharmaceuticals Acquisition
Acquires CFR Pharmaceuticals for $2.9 billion, significantly expanding emerging market branded generics footprint.
Source: abbott.comFreeStyle Libre Launch
Introduces the revolutionary FreeStyle Libre continuous glucose monitoring system, transforming diabetes care.
Source: abbott.comSt. Jude Medical & Alere Acquisitions
Completes the landmark $25B acquisition of St. Jude Medical and $5.3B acquisition of Alere, cementing cardiovascular and rapid diagnostics leadership.
Source: abbott.comBinaxNOW COVID-19 Test
Deploys hundreds of millions of rapid, portable BinaxNOW antigen tests during the global pandemic.
Source: abbott.comExpanding Biowearables
Rolls out advanced continuous health tracking ecosystems including Lingo and FreeStyle Libre 3.
Source: abbott.comMajor Acquisitions
St. Jude Medical
2017Alere Inc.
2017CFR Pharmaceuticals
2014BASF Knoll Pharmaceuticals
2001Keep researching Abbott Laboratories
Abbott Laboratories Company History FAQ
When was Abbott Laboratories founded and who started it?
Abbott Laboratories was established in 1888 in Chicago, Illinois. The founder, Dr. Wallace C. Abbott, launched the enterprise with a clear mission to innovate within healthcare, pioneering new operational models and pharmaceutical solutions that transformed traditional medical practices.
What were the most important milestones in Abbott's history?
Key historical milestones for Abbott include its initial foundation in 1888, the 2013 spinoff of AbbVie, landmark acquisitions such as St. Jude Medical and Alere in 2017, and the revolutionary rollout of the FreeStyle Libre continuous glucose monitoring system.
How did Abbott survive historic economic downturns?
Abbott navigated major economic crises and market volatility by preserving conservative balance sheet reserves, diversifying its core revenue streams across medical devices, diagnostics, and nutrition, and leveraging low-cost operational infrastructure to maintain robust operating margins.
Where is Abbott Laboratories headquartered today?
Abbott Laboratories maintains its global corporate headquarters in Abbott Park, Illinois, directing enterprise strategy, regulatory compliance, technology engineering, and international customer operations from this central location.
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