Abbott Laboratories

OVERALL
Owned	USA
Rating

Healthcare

Founded in 1888.


Abbott Laboratories	USA	website

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Abbott Laboratories

DJSI Industry Group Leader 2017

This company was awarded the 'Industry Group Leader' in the Health Care Equipment & Services category of the Dow Jones Sustainability Index (DJSI) every year from 2013-2017. The DJSI is based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, branding, climate change mitigation, supply chain standards and labor practices.
[Source 2017][More on Sustainability Reporting]

Irresponsible marketing

This company pleaded guilty to federal charges that it improperly promoted the drug Depakote to elderly dementia patients in nursing homes. It reached an agreement with the Department of Justice to settle the investigation for $1.5 billion in May 2012. The company faces more lawsuits over the drug, which can cause birth defects.
[Source 2012][More on Irresponsible marketing]

Irresponsible marketing

This company is named and shamed in IBFAN's 2014 report, 'Breaking the Rules, Stretching the Rules 2014', a weighty collection of evidence showing non-compliance with the International Code of Marketing of Breastmilk Substitutes and subsequent WHA resolutions. The Report covers 27 companies with 813 violations in 81 countries.
[Source 2014][More on Irresponsible Marketing]

39.3% in Newsweek Green Ranking 2017

This company received a score of 39.3/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
[Source 2017][More on Sustainability Reporting]

Nanoparticles in baby formula

Independent testing commissioned by Friends of the Earth in 2015 found potentially harmful nanoparticles in popular baby formulas sold throughout the USA, including products by this company. A growing body of scientific research demonstrates that nanoparticles pose threats to human health, raising concerns about their use in food and many other consumer products.
[Source 2015][More on Product Safety]

Price fixing in China

In 2013 China fined six companies, including this one, a total of $110 million following an investigation into price fixing and anti-competitive practices by foreign baby formula makers.
[Source 2013][More on Governance]

Tax dodging

A 2018 report by Oxfam shows that four pharmaceutical corporations, including this one, systematically hide their profits in overseas tax havens. This activity could deprive developing countries of more than $100 million every year. These corporations deploy massive influencing operations to rig the rules in their favor and give their damaging behavior a veneer of legitimacy. Tax dodging, high prices, and influence peddling by drug companies exacerbate the yawning gap between rich and poor, between men and women, and between advanced economies and developing ones.
[Source 2018][More on Finance]

Possible GE in US brands

This company has products rated RED in the Centre for Food Safety's True Food Shopper's Guide (USA). Products on the RED list contain ingredients that come from the most common GE crops (corn, soy, canola, cotton). Companies with products on this list have confirmed that their products may have or are likely to be made with GE ingredients, or have not denied using GE foods when given the opportunity to do so.
[Source 2013][More on Genetic Engineering]

Multinational Monitor's '10 Worst Corporations of 2007'

Named one of Multinational Monitor's '10 Worst Corporations' in 2007. [Listed under information due to age of article]
[Source 2007][More on Human Rights]

Excessive CEO pay

As You Sow's 2017 report, 'The 100 Most Overpaid CEOs', reveals the 100 most overpaid CEOs from USA's 500 largest public companies (as determined by the S&P 500 list). This company's CEO, Miles D. White came in at number 64 on the list, having been paid US$19,401,704 in 2015. According to the report, "Most CEOs have come to be grossly overpaid, and that overpayment is harmful to the companies, the shareholders, the customers, the other employees, the economy, and society as a whole."
[Source 2017][More on Finance]

Price fixing

In 2010, Abbott Laboratories, B. Braun Medical and Roxane Laboratories agreed to pay $421 million to resolve claims they had reported false and inflated prices for their drugs, which again affected federal health care reimbursements. The grossly inflated average wholesale price (AWP) caused Medicare and Medicaid programs to spend more per patient than was necessary, thereby reducing the amount of funding available for all patients in need. The drug manufacturers did not admit fault. [Listed under Information due to age of court finding]
[Source 2010][More on Governance]

Multinational Monitor's '10 Worst Corporations of 2006'

Named one of Multinational Monitor's '10 Worst Corporations' in 2006. [Listed under information due to age of article]
[Source 2006][More on Politics]

Citizenship claims

This company has sustainability claims on its website.
[Source 2014][More on Sustainability Reporting]

SB 657 disclosure statement

The California Transparency in Supply Chains Act of 2010 (SB 657) requires companies operating in California to disclose their efforts to eradicate slavery and human trafficking from their direct supply chains. KnowTheChain.org has examined this company's disclosure statement and concluded that it addresses the majority of SB 657 requirements. Follow the link to see this company's disclosure statement.
[Source 2013][More on Workers Rights]

Conflict minerals rating

As You Sow's 2017 report, Mining the Disclosures, is a deep analysis of 206 companies' human rights performance in relation to sourcing conflict minerals from the Democratic Republic of the Congo (DRC). This company's score was above 50% (Adequate).
[Source 2017][More on Human Rights]

OpenSecrets.org profile

OpenSecrets.org tracks the influence of money on U.S. politics, and how that money affects policy and citizens' lives. Follow link to see this company's record of political donations, lobbying, outside spending and more.
[Source 2014]

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Company Details

Company Structure	Public company
Revenue	US$22 billion in 2013
# Employees	69,000 in 2013
Subsidiaries	Abbott Australasia Pty Ltd

Contact Details

Address	Chicago, Illinois, USA
Website	www.abbott.com

Products / Brands

Abbott Australasia

Blink Eye & Ear Care
Complete Blink-N-Clean Eye & Ear Care

Abbott Laboratories

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