Abbott

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Owned	USA
Rating

Healthcare

Medical devices and health care company.


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Abbott Laboratories

86/100 S&P Global ESG Score

This company received an S&P Global ESG Score of 86/100 in the Health Care Equipment & Supplies category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 7 Feb 2021). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2021)

CDP Climate Change Score of B

In 2020, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change Score of B.
Source: CDP (2020)

CDP Water Security Score of B

In 2020, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to manage and govern freshwater resources. Responding companies are scored on six key metrics: transparency; governance & strategy; measuring & monitoring; risk assessment; targets & goals; and value chain engagement. This company received a CDP Water Security Score of B.
Source: CDP (2020)

62.3% at JUST Capital

JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2021 rankings the public identified 19 issues, which are organised under the headings Workers, Communities, Customers, Shareholders and Environment. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked 137th of 928 companies, and 9th of 51 Pharmaceuticals & Biotech companies.
Source: JUST Capital (2020)

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: Drug Watch (2012)

Irresponsible marketing

This company is named and shamed in IBFAN's 2017 report, 'Breaking the Rules, Stretching the Rules 2017', evidence of violations of the International Code of Marketing of Breastmilk Substitutes, compiled from June 2014 to June 2017. The report covers 792 Code violations from 79 countries and by 28 companies.
Source: IBFAN (2017)

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: Newsweek (2017)

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: FOE (2015)

CEO Pay Ratio of 329:1

In 2019 the median pay for a worker at this company was US$84,434. The CEO was paid 329 times this amount. Exorbitant CEO pay is a major contributor to rising inequality. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. The economy would suffer no harm if CEOs were paid less (or taxed more). In contrast, the CEO-to-typical-worker compensation ratio was 20-to-1 in 1965 and 58-to-1 in 1989.
Source: AFL-CIO (2020)

Fined for fraud in USA

In 2019 several pharmaceutical companies finally settled a 2005 lawsuit which claimed the companies fudged wholesale drug prices to increase Medicaid reimbursements. In all, the state of Illinois received a combined $648 million over the course of that litigation. This company was involved in the 2019 settlement.
Source: news article (2019)

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: Oxfam (2018)

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: Multinational Monitor (2007)

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: Center for Food Safety (USA) (2013)

Excessive CEO pay

As You Sow's 2021 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 White came in at number 40 on the list, having been paid US$27,802,817 in 2020. 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: As You Sow (2021)

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: Drug Watch (2010)

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: news article (2013)

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: Multinational Monitor (2006)

Mum-friendly employer

This company was named in the Working Mother 100 Best Companies 2020 for being a mum-friendly employer. Listed companies demonstrate progress in offering paid parental leave and opportunities to return to work gradually, as well as family-friendly benefits and opportunities for women to advance.
Source: Working Mother (2020)

Citizenship claims

This company has sustainability claims on its website.
Source: company website (2014)

Responsible Minerals Initiative member

This company is a member of the Responsible Minerals Initiative (formerly the Conflict-Free Sourcing Initiative), which helps companies address conflict minerals issues in their supply chains. The RMI provides information on conflict-free smelters and refiners, common tools to gather sourcing information, and forums for exchanging best practices on addressing conflict minerals. Membership is open to companies that use or transact in tantalum, tin, tungsten or gold (3TG). Founded in 2008 by members of the Electronic Industry Citizenship Coalition and the Global e-Sustainability Initiative.
Source: RMI (2019)

54% in conflict minerals rankings

As You Sow's 2019 report, Mining the Disclosures, is a deep analysis of 215 companies' human rights performance in relation to sourcing conflict minerals from the Democratic Republic of the Congo (DRC). This company's score was 54% (Adequate).
Source: As You Sow (2019)

Modern Slavery statement

California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: Modern Slavery Registry (2017)

Modern Slavery statement

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: Open Secrets (2014)

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Company Details

Type	Public company
Founded	1888
Revenue	US$32 billion in 2019
Employees	107,000 in 2019
Subsidiaries	Abbott Australasia Pty Ltd Healthcare Abbott has been operating in Australia since 1937.

Contact Details

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

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Abbott Australasia

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

Abbott

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