The company provides a broad line of adult and pediatric pharmaceuticals, which are sold primarily on the prescription or recommendation of physicians, and diagnostic systems and tests for blood banks, hospitals, commercial laboratories, alternate-care testing sites, and consumers. Principal nutritional products include various forms of prepared infant formula, including Similac, Isomil, Alimentum, and Similac NeoSure and other adult and pediatric products such as Ensure. Primary marketing efforts for pharmaceutical products are directed toward securing the prescription of Abbott's brand of products by physicians.
Competition is generally from other broad line pharmaceutical companies.
A significant aspect of competition is the search for technological innovations. The introduction of new products by competitors and changes in medical practices and procedures can result in product obsolescence. Price can also be a factor. In addition, the substitution of generic drugs for the brand prescribed has increased competitive pressures on pharmaceutical products which are not patented. In the second quarter of 1998, Abbott acquired International Murex Technologies Corporation, a manufacturer of microtiter-based immunoassay test kits.