Meridia, or sibutramine hydrochloride monohydrate, is a popular weight-loss drug originally manufactured by Knoll Pharmaceuticals. In 2001, however, Knoll's parent company sold its pharmaceutical division---Meridia included---to Abbott Laboratories. Meridia is now just one of many products manufactured by Abbott. A worldwide success, Abbott has an extensive product line, a large workforce and high rankings in the business community, making it a profitable and promising company with a history of excellence.
Identification
Meridia is manufactured by Abbott Laboratories, a health-care company based in Abbott Park, Illinois, a suburb just north of Chicago. Abbott began manufacturing Meridia in 2001, when it acquired Knoll Pharmaceutical, the pharmaceutical division of the chemical company BASF, the original makers of Meridia. In addition to pharmaceuticals, Abbott manufactures medical equipment, diagnostic tools, nutritional products and animal health products.
History
Abbott was founded in 1888 by Dr. Wallace C. Abbott, a physician who went on to become one of the founders of modern pharmacy. Based in Illinois, the company was originally called the Abbott Alkaloidal Co. In 1910, Abbott established branches in New York, San Francisco, Seattle, Toronto, London and India. The company grew rapidly over the next century, expanding to become the manufacturer of such successful products as Ensure health supplement, the drugs Biaxin, Depakote and Prevacid, and the baby formula Similac.
Size and Scope
Abbott has 72,000 employees and more than 100 facilities worldwide. In 2008, Abbott's sales totaled $29.5 billion, and its 2007 research and development costs totaled $2.5 billion. Abbott's products are sold in more than 130 countries.
Accolades
Fortune magazine has named Abbott one of America's most admired companies every year since 1984, and it was ranked No. 80 on The Fortune 500 list of the largest U.S.-based corporations in 2008. Science magazine named Abbott one of 2007's top employers, and it was named as one of the best entry-level jobs for recent college graduates in 2008 by The Princeton Review and one of the 100 best places to work in 2008 by Working Mother magazine. Abbott has also won the 2008 Chicago Innovation Award and the 2007 Galen Prize for Innovation in Patient Care.
Humanitarian Efforts
Abbott donates millions of dollars to humanitarian causes and medical missions annually. The Abbott Global AIDS Care program has invested more than $100 million to HIV/AIDS testing and treatment throughout Africa, and the Abbott Fund has worked to improve the health of women and children in Afghanistan, Cambodia and Vietnam. In addition, the company has partnered with U.S. health-care organizations to provide products and supplies to hurricane-prone states before disaster strikes.
