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MarketScreener Homepage  >  Equities  >  Nyse  >  Abbott Laboratories    ABT

ABBOTT LABORATORIES

(ABT)
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Abbott Laboratories : BECOMES FIRST ANCHOR SPONSOR OF AMERICAN DIABETES ASSOCIATION'S HEALTH EQUITY NOW INITIATIVE TO ADVANCE ACCESS TO CARE AND TECHNOLOGY FOR PEOPLE WITH DIABETES

11/19/2020 | 08:45am EST

Today, Abbott (NYSE: ABT) and the American Diabetes Association (ADA) announced that Abbott has become the first anchor sponsor of the Health Equity Now (HEN) platform to address health disparities for people with diabetes.

Abbott's sponsorship includes a three-year, $5 million commitment to support the ADA's advocacy and community-driven projects aimed at removing barriers to care and providing greater access to the latest medical technologies and health resources for underserved diabetes populations.

'It's important that people with diabetes in the U.S. have access to the latest innovations to effectively manage their condition and help them thrive,' said Tracey D. Brown, chief executive officer of the American Diabetes Association. 'It is time to tear down the systemic barriers that separate us based on zip code, income level, education, color and gender, and it's time that we demand health equity now.'

Data show that compared to white adults, the risk of being diagnosed with diabetes is higher among Black Americans (77%), Latinos (66%), and Asian Americans (18%).1 With 50% of low-income Americans with diabetes having lost some or all income during the pandemic,2 COVID-19 has brought greater attention to the large gaps in the U.S. healthcare system, shining a light on the health and economic disparities faced by Americans in underserved communities.

To address these health inequities, the ADA created the Health Equity Bill of Rights, which includes a core right for all to access the latest medical advances. Abbott will support the ADA's advocacy efforts to tear down barriers that limit access to high-quality medical technologies, including continuous glucose monitoring (CGM) advancements, among others.

'No matter someone's race, income level or background, quality care and life-changing technologies should be affordable and broadly accessible to all people living with diabetes,' said Jared Watkin, senior vice president, Diabetes Care, Abbott. 'Abbott is proud to support the ADA's goal to work toward health equity and to advance access to the latest technologies for people with diabetes, helping them lead healthier, fuller lives with dignity.'

Another primary focus of Abbott's sponsorship will drive sustained community engagement through local programs and initiatives to help improve diabetes-related health outcomes. With Abbott's support, the ADA will immediately begin work to bring together experts and collaborate with underserved communities to develop key program outreach models that include public health education, professional education and training and other community services that will be rolled out in 2021.

About the American Diabetes Association:

Every day more than 4,000 people are newly diagnosed with diabetes in America. More than 122 million Americans have diabetes or prediabetes and are striving to manage their lives while living with the disease. The American Diabetes Association (ADA) is the nation's leading voluntary health organization fighting to bend the curve on the diabetes epidemic and help people living with diabetes thrive. For 80 years the ADA has been driving discovery and research to treat, manage and prevent diabetes, while working relentlessly for a cure. We help people with diabetes thrive by fighting for their rights and developing programs, advocacy and education designed to improve their quality of life. Diabetes has brought us together. What we do next will make us Connected for Life.

About Abbott

As part of our purpose to help people live fuller lives through better health, Abbott is committed to advancing health equity, working side-by-side with the communities we serve to address health disparities and tackle barriers to health. This includes efforts across our business and in partnership with others to expand access to technology, quality care and nutrition, and to advance STEM and health education to inspire a diverse and innovative next generation. Looking ahead, Abbott will further extend these efforts with the launch of its 2030 sustainability strategy and plan later this year, with forward-looking targets to build a stronger, more sustainable Abbott that better serves the many people who depend on us.

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com, on LinkedIn at www.linkedin.com/company/abbott-/, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews.

Ying-Ying Meng et al. Racial and Ethnic Disparities in Diabetes Care and Impact of Vendor-Based Disease Management Programs. Diabetes Care, May 2016.

Diabetes and COVID-19: New Data Quantifies Extraordinary Challenges Faced by Americans with Diabetes During Pandemic. Survey by dQ&A and The American Diabetes Association. July 2020.

Contact:

Tel: +1 (202) 213-5129

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 33 854 M - -
Net income 2020 4 415 M - -
Net Debt 2020 11 794 M - -
P/E ratio 2020 45,4x
Yield 2020 1,29%
Capitalization 191 B 191 B -
EV / Sales 2020 5,98x
EV / Sales 2021 5,19x
Nbr of Employees 107 000
Free-Float 88,9%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 120,22 $
Last Close Price 111,30 $
Spread / Highest target 21,3%
Spread / Average Target 8,02%
Spread / Lowest Target -26,3%
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Managers and Directors
NameTitle
Robert B. Ford President, CEO, Chief Operating Officer & Director
Miles D. White Executive Chairman
Robert E. Funck Chief Financial Officer & Executive Vice President
Roxanne Schuh Austin Independent Director
Samuel C. Scott Independent Director
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