Abbott Laboratories is also a major supplier of hand-held point-of-care diagnostics and blood glucose monitoring devices that enable health care professionals and patients manage a wide range of disorders (Abbot.com, 2011).
Current Challenges and Problems
On May 26, 2011, the U.S. National Heart, Lung, and Blood Institute terminated a clinical trial of Abbot Laboratories' cholesterol drug Niaspan a full year and a half earlier than scheduled (Loftus, 2011). That decision was based on specific concerns over data indicating that Niaspan failed to reduce the risk of heart attacks and strokes in connection with its combination with statin drugs. That study also suggested that Niaspan could be a potential factor in the unexplained increase in ischemic-stroke rates among study participants. Last year, Abbott generated Niaspan sales totaling $927 million and had projected sales in excess of $1 billion this year. According to industry analysts, the early cessation of the government study and the concerns it raised could result in a decline in sales of as much as 20% next year (Loftus, 2011). Another problem for the company emerged in June when an entire tractor trailer's worth of glucose...
That type of crime is a growing problem because of the strength and scope of the black market for medical and pharmaceutical products and the large demand for those products. In addition to the loss of revenues at issue, Abbott Laboratories is also concerned about potential harm to patients attributable to tampering and contamination of stolen Abbot products sold to unsuspecting consumers.
References
Abbott.com. (2011). About Abbott. Accessed 4 July 2011 from:
http://www.abbott.com/global/url/content/en_US/10:10/general_content/General_Content00004.htm
Loftus, P. "Prescriptions for Abbott's Niaspan off after Negative Study." (28 June 2011).
Accessed 4 July 2011 from the Wall Street Journal public website at:
http://online.wsj.com/article/BT-CO-20110628-710884.html
Reuters. (2011). "Abbott says blood sugar monitoring devices stolen." (24 June 2011).
Accessed 4 July 2011 from the Reuters.com public website at:
http://www.reuters.com/article/2011/06/24/us-abbottlaboratories-
idUSTRE75N6EG20110624
