Executive Authority
GOTA
From Johnson and
Johnson to Ross Labs to Abbotts Labs to Ross Stores
Owner Jesus Christ, INC
https://en.wikipedia.org/wiki/Abbott_Laboratories
Ensure was first marketed by Ross Laboratories in 1973
https://en.wikipedia.org/wiki/Ross_Stores
Ross Stores, Inc. is an American chain of off-price department stores
headquartered in Dublin,
California,[2] officially operating
under the brandname, Ross Dress for Less. It is the largest
off-priced retailer in the U.S. As of August 2015, Ross operates 1,412 stores
in 37 U.S. states, the District of Columbia and Guam,[3] covering much of the country, but with no presence
in New England, New
York, northern New Jersey, Alaska, and areas of the Midwest
Ross Department Store was first opened in San
Bruno, California, in 1950 by Morris "Morrie" Ross. Morris would work
85 hours a week doing all of the buying and bookkeeping for his department
store. In 1958 Ross sold his store to William Isackson to become a residential
and commercial real estate developer.[5]Isackson
built the company to six stores, located in San Bruno, Pacifica, Novato,
Vacaville, Redwood City, and Castro Valley. In 1982 a group of investors,
including Mervin Morris, founder of the Mervyns chain
of department stores, purchased the six Ross Department Stores in San
Francisco, changed the format to off-price retail
units, and within three years rapidly expanded the chain to 107 stores under
Stuart Moldaw and Don Rowlett.[6][7] By the end of 1995 the chain reached
an annual sales of $1.4 billion with 292 stores in 18 states. By 2012 Ross
reached $9.7 billion for the fiscal year with 1,091 stores in 33 states with an
additional 108 for Dd's Discounts in
8 states.[8] Ross
moved its headquarters from Newark to Pleasanton,
California, in the Tri-Valley area,
in 2003.
Barbara
Rentler took the place of CEO Michael Balmuth on June 1, 2014; she
was the 25th female CEO of a Fortune 500 company.[9] Ross moved its headquarters from
Pleasanton to neighboring Dublin, California in
2014
Johnson
and Johnson the Owner
https://en.wikipedia.org/wiki/Johnson_%26_Johnson
Mead Johnson Nutrition is a leading manufacturer
of infant
formula both domestically and globally with its flagship
product Enfamil. The
company dates back to a firm created by Edward
Mead Johnson, one of the co-founders of Johnson
& Johnson, who created his own business in 1895, which was renamed Mead
Johnson & Company in 1905. The company was majority owned by Bristol-Myers
Squibb after an acquisition in 1967, but was spun off in 2009 as
an independent firm.
In the year end 31 December 2016, Mead Johnson reported net
sales of $3,743 million. Fifty percent of those sales were generated in Asia,
17% in Latin America and 33% in North America/Europe. For the same time period,
the company reported total assets of $4,088 million.
In February 2017, British consumer
goods company Reckitt Benckiser (RB)
bid $16.7 billion for the company.[1]
On June 15, 2017 MJN announced that its merger with RB has been
completed. As a result, MJN's common stock is no longer traded on the New York
Stock Exchange, effective the announcement date.[2]
|
June 2012 Ensure product lineup |
|
|
|
Type |
||
|
Invented |
1973 |
|
|
||
Ensure has been used in the force feeding of hunger-striking prisoners at the United States' Guantanamo Bay detention camps.
Abbott Laboratories
Alpharetta,
GA
(847)
937-6100
Abbott Laboratories
Altavista,
VA
(434)
369-3100
Open 24
hours
Abbott Laboratories
Columbus,
OH
(614)
564-0019
Open
now
Abbott Laboratories
Irving,
TX
(972)
518-6000
Open
now
Abbott Laboratories
Washington,
DC
(202)
393-6170
Abbott Laboratories
Rockville,
MD
(301)
255-0080
Abbott Laboratories
Dallas,
TX
(214)
388-5032
BayCare
Laboratories (Suncoast Medical Clinic)
St.
Petersburg, FL
(727)
394-6748
Open ⋅ Closes 5:30PM
BayCare
Laboratories (Carillon)
St.
Petersburg, FL
(727)
394-6748
Closed ⋅ Opens 9AM Thu
Bayfront Health Sleep Lab
Zephyrhills,
FL
(813)
783-1866
Abbott Labs
Waukegan,
IL
Open
now
Lofts On Abbott
Miami
Beach, FL
Abbott Laboratories
East
Windsor, NJ
(609)
443-9300
Abbott Laboratories
Cades,
SC
(843)
382-2105
Abbott
Laboratories: Vrioni Beth
Abbott
Laboratories
Abbott
Park, IL
(847)
938-7576
Open
now
Florida Medical
Clinic - Sleep Lab
Zephyrhills,
FL
(813)
778-0808
Abbott
Informatics Corporation
Hollywood,
FL
(954)
964-8663
Open ⋅ Closes 5PM
Abbott Laboratories
Stone
Mountain, GA
(770)
939-0109
Abbott Nutrition
Sturgis,
MI
(614) 624-7677
Open 24
hours
Abbott Laboratories
Moneta,
VA
(540)
297-8819
Abbott Laboratories is an American health care company
with headquarters in Lake Bluff, Illinois,
United States. The company was founded by Chicago physician Wallace
Calvin Abbott in 1888 to formulate known drugs; it eventually grew to also sell
research-based drugs, medical devices, diagnostics, and nutritional products.
It split off the research-based pharmaceuticals into AbbVie in
2013. In 2017, revenues were $27.39 billion.
Abbott has a broad range of branded generic pharmaceuticals,
medical devices, diagnostics, and nutrition products. The company's in-vitro
diagnostics business performs immunoassays and blood screening. Its medical
tests and diagnostic instrument systems are used worldwide by hospitals,
laboratories, blood banks, and physician offices to diagnose and monitor
diseases such as HIV, hepatitis, cancer, heart failure and metabolic disorders,
as well as assess other indicators of health. In 1985, the company developed
the first HIV blood-screening test.
Abbott Point-of-Care manufactures diagnostic products for blood
analysis to provide health care professionals diagnostics information at the
point of patient care. Abbott also provides point-of-care cardiac assays to
the emergency
department.
n 1888 at the age of 30, Wallace Abbott (1857–1921), an 1885
graduate of the University
of Michigan, founded the Abbott Alkaloidal Company in
Ravenswood, Chicago. At the time, he was a practicing physician and owned a
drug store. His innovation was the use of the active part of a medicinal plant,
generally an alkaloid (e.g., morphine, quinine, strychnine and codeine),
which he formed into tiny "dosimetric granules". This approach was
successful since it produced more consistent and effective dosages for
patients.[2] In
1922 he moved the company from Ravenswood to North Chicago, Illinois.
Abbott's first international affiliate was in London in 1907,
and the company later added an affiliate in Montreal, Canada (Fact 21). Abbott
started operations in Pakistan as
a marketing affiliate in 1948; the company has steadily expanded to comprise a
work force of over 1500 employees. Currently two manufacturing facilities
located at Landhi and Korangi in Karachi continue
to produce pharmaceutical products.[3] Expansion
continued in 1962 when Abbott entered into a joint venture with Dainippon
Pharmaceutical Co., Ltd., of Osaka, Japan, to manufacture radio-pharmaceuticals.
In 1964, it merged with Ross Laboratories, making Ross a wholly owned
subsidiary of Abbott, and Richard Ross gained a seat on Abbott's board of
directors until his retirement in 1983.[4] In
1965, Abbott's expansion in Europe continued with offices in Italy and France.
Abbott Laboratories has been present in India for
over 100 years through its subsidiary Abbott India Limited and it is
currently India's
largest healthcare products company.[5].
According to Harvard professor Lester Grinspoon and
Peter Hedblom, "In 1966 Abbott Laboratories sold the equivalent of two
million doses of methamphetamine in powder form to a Long Island criminal
dealer".[6]
In 2001, the company acquired Knoll, the pharmaceutical division
of BASF. In
2002, it divested the Selsun Blue brand
to Chattem. Later
in 2002, the company sold Clear Eyes and Murine to Prestige Brands.[citation
needed] In 2004, it spun off its hospital products division into a
new 14,000 employee company named Hospira, and
acquired TheraSense, a diabetes-care
company, which it merged with its MediSense division to become Abbott Diabetes
Care. In 2006, Abbott assisted Boston Scientific in
its purchase of Guidant Corporation.
As part of the agreement, Abbott purchased the vascular device division of
Guidant. In 2007, Ross was renamed Abbott Nutrition.
In 2007, Abbott acquired Kos Pharmaceuticals for $3.7 billion in
cash.[7] At
the time of acquisition, Kos marketed Niaspan, which
raises levels of “good,” or HDL, cholesterol and Advicor, a Niaspan
combination drug for patients with multiple lipid disorders.
In January 2007, the company agreed to sell its in vitro
diagnostics and Point-of-Care diagnostics divisions to General Electricfor
more than $8 billion. These units were slated to be integrated into the GE Healthcare business
unit. The transaction was approved by the boards of directors of Abbott and GE
and was targeted to close in the first half of 2007. However, on July 11, 2007,
Abbott announced that it had terminated its agreement with GE because the
parties could not agree on the terms of the deal.[8]
On September 8, 2007, the company completed the sale of the UK
manufacturing plant at Queenborough to
Aesica Pharmaceuticals, a private equity-owned UK manufacturer. No
announcements have been made restricting the movement of staff to Abbott unlike
other sell outs. On February 26, 2009, the company completed its acquisition
of Advanced
Medical Opticsbased in Santa
Ana, California. In 2009, Abbott opened a satellite research and development
facility at Research
Park, University of Illinois at Urbana-Champaign.[citation
needed]
In February 2010, Abbott completed its $6.2 billion (EUR 4.5
billion) acquisition of the pharmaceuticals unit of Solvay S.A..[9]This provided Abbott with a large and
complementary portfolio of pharmaceutical products and also expanding its
presence in key emerging markets.[10]
On March 22, 2010, the company completed its acquisition of
a Hollywood,
Florida-based LIMS company STARLIMS. Under
the terms of the deal, Abbott Laboratories acquired the company for $14 per
share in an all-cash transaction valued at $123 million.[11] On May 21, 2010, Abbott Laboratories
said it would buy Piramal Healthcare Ltd.'s Healthcare Solutions unit for $2.2[12] billion to become the biggest drug
company in India.[13]
In October 2011, the company announced that it planned to
separate into two companies, one research-based pharmaceuticals and the other
in medical devices, generic drugs sold internationally, and consumer products,
with device company retaining the Abbott
name.[14][15] The company announced that the other
company would be named AbbVie in
March 2012.[16] In
preparation for the reorganization, Abbott made severe budget cuts and took a
$478 million charge in Q3-2012 to pay for the restructuring.[17] The
separation was effective as of January 1, 2013. AbbVie was officially listed in
the New
York Stock Exchange on January 2, 2013.[18]
On May 16, 2014, it was announced that Abbott would acquire
the holding
company Kalo Pharma Internacional S.L. for $2.9 billion in order
to secure the 73% it held of Chilean pharmaceutical company, CFR
Pharmaceuticals, which the company said would more than double its branded
generic drug portfolio.[19][20][21]
In June 2014, the company entered into a definitive
agreement to take over Russian pharmaceutical manufacturer Veropharm (Voronezh) in a
deal worth $631 million.[19] Abbott,
which already employs 1,400 people in Russia, said it planned to set up a
manufacturing presence in the country when the deal closed.[22]
In February 2016, the company announced it would acquire Alere for
$5.8 billion.[23][24] In late April, of the same year,
Abbott announced it would acquire St. Jude Medical for
$25 billion (each share receiving $46.75 in cash & 0.8708 shares of Abbott
common stock, equating to an approximate value of $85).[19][25][26]
In October 3, 2017, the company closed the Alere acquisition
making the surviving entity the market leader player in the $7 billion
point-of-care diagnostic space within the broader $50 billion in-vitro
diagnostics market with this takeover.[27] With
the acquisition of Alere, the
company also obtain the subsidiary Arriva
Medical, which is the largest mail-order diabetic supplier. Arriva
Medical announced business closure after Abbott acquisition
effective December 31, 2017[28]
In August 2018, Reuters reported that "Abbott Laboratories
(ABT.N) is among the top five companies for branded generic drugs in Russia, the
company’s chief financial officer, Brian Yoor, said in January."[29]
In January 2019 Abbott exercised its option to purchase Cephea
Valve Technologies, Inc. who are developing a less-invasive replacement heart
valve for people with mitral valve disease.[30]
Acquisition history[edit]
The following is an illustration of the company's major mergers
and acquisitions and historical predecessors (this is not a comprehensive
list):
show
Illustration
of the company's mergers, acquisitions, spin-offs and historical predecessors
Finances[edit]
For the fiscal year 2017, Abbott Laboratories Insurance reported
earnings of US$477 million, with an annual revenue of US$27.390 billion, a
decline of 31.4% over the previous fiscal cycle. Abbott Laboratories's shares
traded at over $47 per share, and its market capitalization was valued at
US$119.3 billion in October 2018.[34]
|
Year |
Revenue |
Net income |
Total Assets |
Price per Share |
Employees |
|
2005 |
22,338 |
3,372 |
29,141 |
17.37 |
|
|
2006 |
22,476 |
1,717 |
36,178 |
17.46 |
|
|
2007 |
25,914 |
3,606 |
39,714 |
21.34 |
|
|
2008 |
29,528 |
4,881 |
42,419 |
21.89 |
|
|
2009 |
30,765 |
5,746 |
52,582 |
19.51 |
|
|
2010 |
35,167 |
4,626 |
60,574 |
20.75 |
|
|
2011 |
21,407 |
4,728 |
60,277 |
21.26 |
|
|
2012 |
19,050 |
5,963 |
67,235 |
26.57 |
|
|
2013 |
19,657 |
2,576 |
42,953 |
31.90 |
69,000 |
|
2014 |
20,247 |
2,284 |
41,207 |
37.39 |
77,000 |
|
2015 |
20,405 |
4,423 |
41,247 |
43.16 |
74,000 |
|
2016 |
20,853 |
1,400 |
52,666 |
38.65 |
75,000 |
|
2017 |
27,390 |
477 |
76,250 |
47.50 |
99,000 |
Organization[edit]
Abbott
office
Abbott's core businesses focus on diagnostics, medical devices,
pharmaceuticals and nutritional products, which have been supplemented through
acquisitions. As of 2018, the firm's divisions are:
·
Abbott Diabetes Care (ADC):[19] Glucose monitoring devices
·
Abbott Diagnostics Division (ADD):[19] Hematology,
immunodiagnostic, oncologyand
clinical chemistry
·
Abbott Molecular Diagnostics (AMD)[19]
·
Abbott Nutrition (AN):[19] baby nutrition (e.g., Similac,
Isomil, and Gain), adult health products (e.g., Ensure and ZonePerfect) and
special dietary needs (e.g., Glucernaand Juven)
·
Abbott Point of Care (APOC):[19] Includes
the i-Stat analyzer for bedside testing
·
Abbott Vascular (AV)[19]
·
Abbott Cardiovascular & Neuromodulation (CN): Formerly St.
Jude Medical.
·
Abbott Rapid Diagnostics (ARDx): Formerly Alere.
·
Established Pharmaceuticals Division (EPD):[19] Branded generic drugs sold
exclusively in developing markets.
Management structure[edit]
Miles
D. White is Chairman and (CEO).[17] He
joined Abbott in 1984, serving in management positions including senior vice
president of diagnostic operations and executive vice president. He was elected
to the Board of Directors in April 1998, to Chief Executive Officer in 1998,
and to Chairman of the Board in April 1999.[35]
Management practices[edit]
Along with being ranked 134th on the 2015 Fortune 500 list of
largest U.S.-based corporation,[citation
needed] Abbott was named one of the 2014 Top 20 Employers by the
journal Science and listed as a Top 10 company for women by Working Mother
magazine and the National Association for Female Executives.[citation
needed] The company has also been named one of the World's Most
Admired Companies by Fortune magazine every year since 1984 – ranking No. 1 in
medical equipment in 2014 and 2015.[citation
needed] Abbott has also been recognized for 11 consecutive years
for sustainability leadership through its inclusion on the Dow Jones
Sustainability Index (DJSI).[citation
needed] The Top Employers Institute designated Abbott as a great
place to work in Europe and China in 2014.[citation
needed] DiversityInc magazine
has recognized Abbott repeatedly as a Top 50 company for diversity; and,
additionally, the Dave Thomas Foundation ranked the company as a best company
thanks to its generous adoption benefits.[citation
needed]
Ownership[edit]
As of 2017 Abbott Laboratories shares are mainly held by
institutional investors (The Vanguard Group, BlackRock, State
Street Corporation and others).[36]
Litigation[edit]
Humira[edit]
In March 2003, British company Cambridge Antibody Technology
(CAT) stated its wish to "initiate discussions regarding the applicability
of the royalty offset provisions for Humira" (Adalimumab) with
Abbott Laboratories in the High Court of London. In December 2004, the judgment
ruled for CAT.[37]
Abbott was required to pay CAT US$255 million, some of which was
to be passed to its partners in development. Of this sum, the Medical
Research Council (United Kingdom) (MRC) received US$191M,
and in addition, Abbott was asked to pay the MRC a further US$7.5M over five
years from 2006, providing that Humira remains on the market.[citation
needed]
Depakote[edit]
On October 2, 2012, the company was charged with a $500 million
fine and $198.5 million forfeiture for illegal marketing, and in a plea
agreement was assessed the second-largest criminal fine in U.S. history for a
drug company. U.S. District Court Judge Samuel G Wilson of the Western District
of Virginia imposed it given Abbott's guilty plea related to its unlawful
promotion of Depakote for
uses not approved by the FDA. Abbott had advertised Depakote to be used to
control behavioral disturbances for patients with dementia and schizophrenia,
without FDA approval. In addition, Abbott marketed Depakote for other
psychiatric conditions in adults, including depression, anxiety,
obsessive-compulsive disorder, post-traumatic stress disorder, alcohol and drug
withdrawal and psychiatric conditions in children, including conduct disorders,
attention deficit disorder and autism. The court also ordered Abbott to a
five-year term of probation and court supervision.[38] Shareholders then brought derivative
suits against the company directors for breach of fiduciary duty[39] The parties reached a negotiated
settlement in which Abbott agreed to beef up its internal controls and paid the
plaintiffs' attorney fees.[40]
Sponsorship[edit]
Since 2015 Abbott is the title sponsor of the World
Marathon Majors.[41]
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G82214 |
INACT |
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NAME HS |
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Ensure is the brand name of nutritional
supplements and meal replacementsmanufactured
by Abbott
Laboratories.
A 237-ml (8-fl oz) bottle of Ensure Original contains 220 calories, six
grams of fat, 15
grams of sugar, and
nine grams of protein. The
top six ingredients are water, corn maltodextrin,
sugar, milk
protein concentrate, canola
oil, and soy proteinisolate.[1]
History[edit]
In 1903, Harry C. Moores and Stanley M. Ross launched the
"Moores & Ross Milk Company", which specialized in bottling milk
for home delivery for the first few years.[2] By
1964, however, the company merged with Abbott Laboratories. A drink called
Ensure was first marketed by Ross Laboratories in 1973.[2]
In the 1990s, Ensure and other nutritional drink products
like Mead
Johnson's Sustacal and Nestlé's
Boost and Resource brands were fiercely competing to capture market share among
healthy adults.[3] In
1996, Ensure had sales of about $300 million and accounted for 80% of protein
supplement sales; Abbott spent $45.4 million to advertise Ensure during the
first nine months of 1996, around 70% more than it spent during the same period
of 1995.[4]
In 1995, the Center
for Science in the Public Interest said that ads for Ensure
were "the most misleading food ad" of that year.[3]In 1997, Abbott settled charges from
the Federal
Trade Commission that it was falsely marketing Ensure as having a similar
amount of vitamins as multivitamin supplements, as being recommended by doctors
more than any other nutritional supplement, and as being recommended by doctors
as a way to stay healthy and active for people who were otherwise healthy.[3][5]
When Abbott split off its pharmaceuticals division, Abbvie, in
2013, the Ensure product line remained with Abbott with the other nutritional
products.[6]
As of 2016, variants of Ensure included:[7]
·
Ensure Original
·
Ensure Original Pudding[8]
·
Ensure Plus
·
Ensure Enlive
·
Ensure High Protein
·
Ensure Clear
·
Ensure Light
·
Ensure Compact
·
Ensure Original Nutrition Powder
·
Ensure Muscle Health[9]
As of 2016, Ensure Complete had been discontinued.[10]
Ensure has been used in the force
feeding of hunger-striking prisoners at the United States' Guantanamo
Bay detention camps.[11]
See also[edit]
Similar products[edit]
·
Huel
·
SlimFast
·
Soylent
References[edit]
1.
^ "Ensure®
Original Milk Chocolate Nutrition Shake", ensure.com.
2.
^ Jump up to:a b "Ross
Laboratories". Ohio History Central. Retrieved 25
October 2016.
3.
^ Jump up to:a b c Burros, Marian (8 January 1997). "Eating
Well". The New York Times. Retrieved 9
February 2017.
4.
^ Gellene, Denise (3 January
1997). "Ensure
Maker Settles Ad Charges". Los Angeles Times.
5.
^ "Docket
No. C-3745: In the Matter of Abbot Laboratories, a corporation" (PDF). FTC. May 30, 1997.
6.
^ Marbury, Donna (November 29,
2012). "As
Abbott and AbbVie move toward split-up, Wall Street waits". Medill
Reports.
Retrieved 26 October 2016.
7.
^ "Ensure Products". Ensure. Retrieved 26
October 2016.
8.
^ "Ensure
Original Pudding". Abbott Nutrition. Retrieved 26
October 2016.
9.
^ "Muscle
drink with HMB targets the middle-aged". LA
Times. May 29, 2011.
Retrieved 26 October 2016.
10.
^ "Ensure
Complete". Ensure. Retrieved 26
October 2016.
11.
^ Photos
from Guantanamo’s force-feeding facilities, Washington Post 10 May 2013
External links[edit]
The Guantanamo Bay detention camp is a United
States military
prison located within Guantanamo
Bay Naval Base,[1] also
referred to as Guantánamo, G-Bay, GTMO,
and Gitmo (/ˈɡɪtmoʊ/),
which is on the coast of Guantánamo Bay in
Cuba. Since the inmates have been detained
indefinitely without trial and several detainees have been tortured, the
operations of this camp are considered to be a major breach of human rights
by Amnesty
International.[2]
The camp was established by President George
W. Bush's administration in 2002 during the War on Terror. His
successor, President Barack Obama,
promised that he would close it, but met strong bipartisan opposition from
Congress, which passed laws to prohibit detainees from Guantanamo being
imprisoned in the U.S. During Obama's administration, the number of inmates was
reduced from about 245[3] to
41;[4] most
former detainees were freed and transferred to other countries.[5]
In January 2018, President Donald Trump signed
an executive order to keep the prison camp open indefinitely. In May 2018, the
first prisoner was transferred during Trump's term; this reduced the number of
inmates to 40.[6]
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