Miles White Recaps Abbott's 2014: A Year of Strong Performance, Strategic Actions
Abbott is positioned to do even more to help people live the best lives they can through better health, Chairman and Chief Executive Officer Miles D. White said as he updated shareholders on the company's performance and outlook at the company's Annual Shareholders Meeting earlier today. A few highlights:
Our mission: "Our work helps people live not just longer but better," Mr. White said. "It enables people to live the lives they've imagined."
Our performance: Over the past 10 years, Abbott has generated a total return to shareholders of 165 percent, outperforming the broad market by a significant margin.
Our future: Abbott made a number of moves in 2014 to increase its presence in fast-growing markets where demographic changes are leading to increasing access to health care. He highlighted acquisitions that gained the company's branded generics pharmaceutical business leadership positions in Latin America and Russia. "Abbott has long been a truly global company and last year we became even more so. Thanks to this increased presence, emerging markets now account for roughly half our sales," said Mr. White.
Our local approach: "By designing and manufacturing our products in the markets we serve, we can better match them to local preferences and produce them more efficiently," he said. Abbott opened new nutrition plants in China, India, Singapore and the U.S., and is adding a new eye care facility in Malaysia.
To view all of Mr. White's remarks from the annual shareholder's meeting, please click here.