Editing Abbott Laboratories (section)

=== Spin-offs ===
In 2004, Abbott spun off its hospital products division into a new 14,000 employee company, [[Hospira]],<ref>{{Cite web |url=https://www.bizjournals.com/austin/stories/2004/01/26/story3.html |title=Abbott Labs to spin off unit |last=Higginbotham |first=Stacey |date=2004-01-25 |website=The Business Journals |access-date=2020-04-02 |archive-date=14 January 2016 |archive-url=https://web.archive.org/web/20160114210453/http://www.bizjournals.com/austin/stories/2004/01/26/story3.html |url-status=live }}</ref> which was acquired by [[Pfizer]] in 2015.<ref>{{Cite web |url=https://marketrealist.com/2016/09/pfizers-hospira-deal-catching-up-a-year-later/ |title=Pfizer's Hospira Deal: Catching Up a Year Later |last=Dabney |first=Jillian |date=2016-09-09 |website=Market Realist |language=en-US |access-date=2020-04-02 |archive-date=28 September 2022 |archive-url=https://web.archive.org/web/20220928145919/https://marketrealist.com/2016/09/pfizers-hospira-deal-catching-up-a-year-later/ |url-status=live }}</ref>

In October 2011, Abbott planned to separate into two companies, one for research-based pharmaceuticals ([[AbbVie]]) and the other for medical devices, generic drugs sold internationally, and diagnostics, with the latter retaining the Abbott name.<ref name=nyt>{{cite news|url=https://dealbook.nytimes.com/2011/10/19/abbott-to-split-into-two|title=Abbott Labs to Split into 2 Companies|first1=Michael|last1=de La Mercedfirst2=Bruce|last2=Japsen|newspaper=The New York Times|date=19 October 2011|access-date=26 September 2019|archive-date=17 June 2022|archive-url=https://web.archive.org/web/20220617065658/https://dealbook.nytimes.com/2011/10/19/abbott-to-split-into-two/|url-status=live}}</ref><ref>{{cite news|last1=Rockoff|first1=Jonathan D.|title=Abbott to Split into Two Companies|url=https://www.wsj.com/articles/SB10001424052970204485304576640740820288766|work=[[The Wall Street Journal]]|date=20 October 2011|access-date=5 March 2017|archive-date=12 December 2022|archive-url=https://web.archive.org/web/20221212040813/http://www.wsj.com/articles/SB10001424052970204485304576640740820288766|url-status=live}}</ref> Abbott Nutrition, whose products include Similac, Pedialyte, Glucerna, and Ensure, also retained the Abbott name.<ref name=nyt /> In preparation for the reorganization, Abbott made severe budget cuts and took a $478 million charge in Q3-2012.<ref name=frost2012>{{Citation |author=Frost, Peter |date=17 October 2012 |title=Abbott lays off 550 |newspaper=[[Chicago Tribune]] |url=http://www.chicagotribune.com/business/breaking/chi-abbott-lays-off-550-20121017,0,4039023.story |access-date=16 November 2012 |archive-url=https://web.archive.org/web/20121019011529/http://www.chicagotribune.com/business/breaking/chi-abbott-lays-off-550-20121017,0,4039023.story |archive-date=19 October 2012 |url-status=dead }}</ref> The separation was effective as of 1 January 2013, and AbbVie was listed in the [[New York Stock Exchange]].<ref>{{cite news|last1=Armstrong|first1=Drew|title=AbbVie Rises on First Day of Trading After Abbott Spinoff|url=https://www.bloomberg.com/news/articles/2013-01-02/abbvie-rises-on-first-day-of-trading-after-abbott-spinoff|work=Bloomberg News|date=2 January 2013|access-date=5 March 2017|archive-date=30 March 2022|archive-url=https://web.archive.org/web/20220330020520/https://www.bloomberg.com/news/articles/2013-01-02/abbvie-rises-on-first-day-of-trading-after-abbott-spinoff|url-status=live}}</ref>