Abbott labs abbot laboratories overview analysis
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Abbott Labs is also a serious supplier of hand-held point-of-care diagnostics and blood glucose monitoring devices that enable medical care professionals and patients deal with a wide range of disorders (Abbot. com, 2011).
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Current Challenges and Problems
On May 26, 2011, the U. S. Nationwide Heart, Lung, and Blood Institute terminated a clinical trial of Abbot Laboratories’ cholesterol medicine Niaspan a complete year and a half earlier than planned (Loftus, 2011). That decision was based on particular concerns over data demonstrating that Niaspan failed to reduce the likelihood of heart episodes and cerebral vascular accidents in connection with its combination with statin medications. That research also advised that Niaspan could be a potential factor in the unexplained increase in ischemic-stroke prices among research participants. A year ago, Abbott produced Niaspan sales totaling $927 million and had projected revenue in excess of captal up to $1 billion this year. In respect to industry analysts, early cessation with the government study and the issues it raised could result in a decline in sales of as much as twenty percent next year (Loftus, 2011). One more problem for the company come about in June when an entire tractor trailer’s worth of glucose monitoring equipment was stolen in Louisville, Kentucky (Reuters. com, 2011). That type of crime is a growing problem due to strength and scope in the black industry for as well as pharmaceutical companies the large with regard to those products. In addition to the loss in revenues at issue, Abbott Laboratories is additionally concerned about potential harm to people attributable to tampering and toxic contamination of taken Abbot items sold to unsuspecting consumers.
Abbott. com. (2011). About Abbott. Seen 4 This summer 2011 via:
Loftus, P. “Prescriptions for Abbott’s Niaspan away after Bad Study. ” (28 Summer 2011).
Utilized 4 July 2011 through the Wall Street Journal public website for:
Reuters. (2011). “Abbott says blood sugar monitoring devices stolen. inches (24 Summer 2011).
Utilized 4 July 2011 from the Reuters. com public website at: