Abbott Laboratories

Abbott Laboratories was founded by industrious doctor named Wallace Abbott in 1888, when he started producing dosimetric granules in the kitchen of his apartment in Ravenswood, Illinois.

Wallace C. Abbot was born to to Luther Abbott, a farmer and his wife Wealtha Barrows.

He work on the family farm and at age 20 he set out to obtain a formal education. Within a short years he graduated from University of Michigan Medical School.

He was particularly dissatisfied with the liquid medication that was popular.

He began to manufacture his own pills in the kitchen of the apartment behind his drugstore. Abbott called his pills he’d created “dosimetric granules,” and they were so successful that his sales in the first year of operation amounted to some $2,000.

By 1890 , Abbott’s granule business was quickly growing. He expanded his business into a two storey house.

In 1894, he made a key requisition – The Alkaloidal Clinic – a medical journal.

In 1900 Abbott formally incorporated the Abbott Alkaloidal Company. By 1915 the company had adopted its present name, Abbott Laboratories and had move into international business, selling over 700 Abbott products to 1,000 physicians in Europe and 500 in Latin America.

Dr. Abbott died on July 4, 1921 at the age of 63. He had built a million dollar business empire of his faith that the practice of medicine could be greatly improved innovative pharmaceuticals.

In 1929, Abbott Laboratories went public and seven years later it unveiled its first major research breakthrough: the anesthetic pentothal.

In 1952, Abbott scientists discovered a powerful new antibiotic called erythrocin

Abbott now is a US leader in sales of infant formula and a worldwide leader in sales of diagnostics products. Abbott Laboratories also discovers, develops, manufacturers and markets products and services – from prevention and diagnosis, to treatment and cure.
Abbott Laboratories