Company Directory - Abbott Laboratories
Company Details - Abbott Laboratories
Abbott Laboratories
WebsiteAbbott Park, United States
ISIN: US0028241000
Abbott Laboratories is a global healthcare company engaged in the discovery, development, manufacture, and sale of a broad range of health care products including diagnostics, medical devices, branded generic medicines, and nutritional products.
CCI Score
CCI Score: Abbott Laboratories
-41.78
0.02%
Latest Event
Senate Investigation Highlights Tax Dodging Practices in Big Pharma
A Senate investigation has revealed that major pharmaceutical companies, including Abbott Laboratories, engage in aggressive tax avoidance strategies that undermine ethical business practices and contribute to economic inequality by funneling profits away from public coffers.
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TOADIE
Abbott Laboratories is currently rated as a Toadie.
Latest Events
- MAR272025
A Senate investigation has revealed that major pharmaceutical companies, including Abbott Laboratories, engage in aggressive tax avoidance strategies that undermine ethical business practices and contribute to economic inequality by funneling profits away from public coffers.
- MAR122025
Two former employees allege that Abbott Labs' Scarborough plant failed to accommodate disabilities and created a hostile work environment, leading to a lawsuit for alleged ADA, human rights, and whistleblower protection violations.
-80
Labor Relations and Human Rights Practices
March 25
Abbott Labs is accused of violating ADA and whistleblower protection laws, indicating serious failures in labor relations and human rights practices. Such allegations, if true, contribute to corporate actions that undermine workers' rights and support oppressive practices by neglecting ethical labor standards.
Abbott Labs sued for alleged ADA, human rights and whistleblower protection violations
- MAR082025
Former employees have filed lawsuits alleging that Abbott Laboratories violated ADA and whistleblower protection laws, including retaliation and the creation of a hostile work environment at its Scarborough plant. These claims raise significant concerns about the company’s labor practices and respect for human rights.
-70
Labor Relations and Human Rights Practices
March 25
Allegations of ADA violations and retaliation toward whistleblowers suggest systemic failures in ensuring safe and fair working conditions at Abbott Laboratories. These labor practice concerns not only harm workers but also contribute to broader exploitative business practices that can indirectly bolster authoritarian dynamics by undermining worker rights and protections.
- MAR082025
Two former employees have filed federal lawsuits alleging that Abbott's Scarborough plant violated the ADA, Maine Human Rights Act, and Whistleblower Protection Act by refusing to accommodate disabilities, retaliating against whistleblowers, and creating a hostile work environment amid pressures to rapidly produce COVID-19 tests.
-75
Labor Relations and Human Rights Practices
April 1
The lawsuits allege serious violations of labor rights, including failure to accommodate employees with disabilities, retaliation against whistleblowers, and creating a hostile work environment. Such practices demonstrate a disregard for fair labor standards and human rights, aligning with authoritarian tendencies in corporate behavior.
Abbott Labs sued for alleged ADA, human rights and whistleblower protection violations
- MAR082025
Former employees filed lawsuits alleging that Abbott Laboratories retaliated against them for raising concerns about defective COVID-19 tests and for requesting accommodations for their disabilities. The lawsuits claim a hostile work environment, discrimination, and retaliation which undermine fair labor practices and violate human rights norms.
-70
Labor Relations and Human Rights Practices
March 25
The lawsuit alleges that Abbott Laboratories engaged in retaliatory actions against employees who raised concerns about workplace safety and quality control during a critical period. By denying reasonable accommodations for disabilities and fostering a hostile work environment, the company has shown disregard for labor rights and ethical responsibility, contributing to authoritarian business practices. Such actions erode worker protections and support oppressive corporate behavior, which is particularly concerning in the context of rising authoritarianism.
Abbott Labs sued for alleged ADA, human rights and whistleblower protection violations
- DEC262024
Abbott Laboratories reached a settlement in a lawsuit filed by former procurement specialist Larissa Peluso, who alleged the company engaged in pregnancy discrimination by failing to rehire her as production of Covid-19 testing kits increased. The settlement was formalized via a stipulation of dismissal in the US District Court for the District of Maine.
-75
Labor Relations and Human Rights Practices
April 1
The settlement in a pregnancy discrimination lawsuit indicates problematic labor practices and a failure to protect the rights of a pregnant employee, reflecting a disregard for worker rights and ethical responsibility. This action is particularly damaging given the vulnerabilities of marginalized groups in the workforce.
Abbott Labs Settles Pregnancy Bias Suit With Laid-Off Employee
- JUL302024
Sophia Anderson filed a lawsuit on July 30, 2024, alleging that Abbott Rapid DX North America violated her disability rights by failing to provide reasonable accommodations for her medical conditions, which contributed to her wrongful termination.
-80
Labor Relations and Human Rights Practices
April 1
The lawsuit details allegations of workplace discrimination and retaliation against an employee with disabilities. The company is accused of ignoring requests for reasonable accommodations, which is a clear violation of labor rights and human rights, reflecting unethical business practices.
- JAN012024
Abbott Laboratories has been documented for significant political contributions and lobbying activities, along with a notable revolving door of former government employees among its lobbyists. These practices raise concerns about the company's potential to influence policy in ways that may undermine democratic accountability.
-40
Political Contributions and Lobbying Efforts
March 25
Abbott Laboratories contributed approximately $5.7M in the 2024 cycle and spent around $4.53M on lobbying efforts. This level of financial engagement in political processes, especially where large sums are involved, suggests that the company may be leveraging its resources to influence policy decisions—an action that can indirectly bolster authoritarian tendencies.
-30
Executive Political Engagement
March 25
Approximately 36 out of Abbott Laboratories' 47-48 lobbyists in 2023 and 2024 have previously held government positions. This revolving door phenomenon indicates a deep entanglement between the company and government, potentially leading to conflicts of interest and regulatory capture, which are conducive to authoritarian dynamics.
- SEP012023
Abbott Laboratories has agreed to pay $5.475 million to settle allegations of healthcare fraud, following claims that it provided kickbacks to doctors in exchange for promoting its vascular stents, leading to false claims to Medicare.
-50
Business Practices and Ethical Responsibility
April 1
Abbott's settlement for healthcare fraud, stemming from its practice of paying kickbacks to physicians, underscores unethical business practices that compromised the integrity of healthcare decisions and led to fraudulent claims. This behavior undermines trust in corporate ethics and highlights potential harm to public welfare.
Abbott Laboratories Pays $5.475 Million In Settlement Of Healthcare Fraud Case
- JAN012023
Abbott detailed its engagement in public policy and lobbying activities, including a 2023 disclosure of $3,890,000 in federal lobbying expenditures and its structured, transparent approach to government affairs, as outlined on its corporate political participation page.
-10
Political Contributions and Lobbying Efforts
April 1
Abbott's regular filing of detailed quarterly lobbying reports, including a notable federal lobbying expenditure of $3,890,000 in 2023, highlights its active engagement in influencing political processes. While its compliance and transparency are commendable, the act of corporate lobbying still poses concerns regarding the undue influence corporations can exert on public policy, a potential vector for fostering regulatory capture.
-10
Executive Political Engagement
April 1
The governance structure clearly delegates responsibility for political engagement to senior executives, including a Vice President of Government Affairs and oversight by a Public Policy Committee. This structured executive involvement, while operating within legal frameworks and emphasizing ethical conduct and transparency, still consolidates corporate influence in political decision-making, which raises concerns about the potential distortion of democratic processes.
- JAN012023
Abbott Laboratories details its involvement in U.S. public policy through transparent lobbying activities and structured oversight by its Public Policy Committee. Despite emphasizing ethical behavior and compliance with regulations, the scale of its lobbying efforts raises concerns about corporate influence over democratic processes.
-20
Political Contributions and Lobbying Efforts
March 25
Abbott Laboratories reported $3.89 million in U.S. federal lobbying expenditures in 2023 and maintains a detailed disclosure and oversight process through its Public Policy Committee. While the company stresses ethical conduct and transparency, such extensive lobbying activity can be viewed as leveraging corporate power to shape policy, potentially undermining democratic accountability and contributing indirectly to the rise of corporate complicity in authoritarian practices.
- JAN012023
Abbott outlines its political participation activities, detailing its ethical approach to lobbying and political contributions. The company reports nearly $3.89 million in federal lobbying expenditures in 2023, and emphasizes governance, transparency, and oversight through its Government Affairs function and Public Policy Committee, aimed at shaping policies to enhance access to medical innovation.
+25
Political Contributions and Lobbying Efforts
April 1
Abbott discloses its political contributions and lobbying expenditures (approximately $3.89M in 2023) and adheres to required ethical and transparency guidelines. By actively engaging with state and local political actors to promote access to medical innovation, the company demonstrates a commitment to influencing public policy in a manner that aligns with public health interests, despite the inherent risks of corporate influence.
+20
Executive Political Engagement
April 1
Abbott’s Government Affairs function, managed by a Vice President and overseen by its Public Policy Committee, exemplifies structured and transparent executive political engagement. This oversight mechanism helps ensure that the company’s advocacy efforts are conducted ethically and in line with its commitment to enhancing public health and access to medical innovation.
- JUN302021
Abbott Laboratories disclosed its political contributions for the first six months of 2021, highlighting the company's involvement in political spending. Although the disclosure promotes transparency, the very act of engaging in political donations raises concerns about corporate influence over democratic processes and potential alignment with authoritarian policies.
-10
Political Contributions and Lobbying Efforts
March 25
The political contributions disclosure tracked by the American Democracy Scorecard indicates that Abbott Laboratories is actively involved in channeling funds through political spending. While transparency in disclosure is a positive factor, the involvement in political donations merits scrutiny given the potential for such funds to support policies that may undermine democratic institutions and contribute indirectly to authoritarian tendencies.
Abbott Laboratories Political Contributions Tracker | American Democracy Scorecard
- DEC062019
Abbott Laboratories settled with the U.S. government over allegations of improper kickbacks paid to physicians to promote its medical products, raising serious concerns about its business practices and ethical responsibility.
-50
Business Practices and Ethical Responsibility
March 25
The settlement over kickback allegations highlights a serious violation of ethical business practices. Paying kickbacks to incentivize physicians undermines trust in healthcare and reflects a broader disregard for ethical responsibility, potentially contributing to environments where corporate malfeasance can indirectly bolster authoritarian structures.
- DEC272013
On December 27, 2013, Abbott Laboratories agreed to pay $5.475 million to the U.S. government to settle allegations under the False Claims Act that it paid kickbacks to physicians to promote its medical devices. This settlement highlights unethical business practices in its pursuit of increased product usage.
-70
Business Practices and Ethical Responsibility
April 1
The settlement over kickback payments indicates a serious breach in ethical business practices. By engaging in illicit financial inducements to encourage physicians to use its products, Abbott demonstrated actions that undermine trust in the healthcare system and violate the False Claims Act. This type of conduct is detrimental to fair and accountable corporate behavior.
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Corporate Financials
- Revenue
- 2023
- $42.00B
- Total Assets
- 2023
- $76.00B
- Operating Income
- 2023
- $9.00B
- Total Equity
- 2023
- $33.00B
Employees: 113,000
Industries
- 325412
- Pharmaceutical Preparation Manufacturing
- 325414
- Biological Product (except Diagnostic) Manufacturing
- 339112
- Surgical and Medical Instrument Manufacturing
- 339113
- Surgical Appliance and Supplies Manufacturing
- 423450
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