Abbott has a robust and rich heritage that has helped us remain relevant for more than 130 years.
We’ve shaped our businesses to always stay true to our fundamental goal – to help people live longer and live better.
As we kick off a new decade, Abbott President and Chief Operating Officer – and soon-to-be Chief Executive Officer – Robert F. Ford reminded J.P. Morgan Healthcare Conference attendees that Abbott is now bigger, stronger, more balanced and better positioned than ever.
“Our goal has always been to position Abbott as a growth company,” Ford said at the conference. “The key strategic framework behind that sustainable growth is a philosophy of always looking ahead, anticipating where medical technology and medical needs will be so that we can be relevant and be sustainable.”
We have an established track record of delivering double-digit EPS growth and organic sales growth in the 7-8% range. An important part of our foundation comes from the leadership positions we hold across many large, attractive and fast-growing markets. We’ve sustained those leadership positions by delivering life-changing innovation to people with some of the world’s most prevalent healthcare conditions, such as diabetes, heart disease and the constant need for more accurate and timely test results.
For example, Abbott's FreeStyle Libre portfolio reflects the power of making medical devices simpler. With FreeStyle Libre users roughly doubling each year, the device has helped make it much easier for people living with diabetes to monitor their glucose levels – and it’s priced for broad adoption.
Another solid growth area for Abbott continues to be diagnostics. Our Alinity family of diagnostic instruments, which was engineered to be faster and simpler to operate within a smaller footprint, continues to rollout. As Alinity penetrates new markets and wins renewals with established customers, the benefits for Abbott's performance will continue to grow.
Heart health continues to also dominate healthcare challenges. Among our key innovations in Abbott's Structural Heart portfolio – is MitraClip, a minimally-invasive treatment for mitral regurgitation, or a leaky heart valve. In early 2019, this device received an expanded indication for use in people with significant or severe secondary mitral regurgitation help treat even more people. And earlier this month, we initiated a trial to study MitraClip as an option for moderate surgical risk patients – potentially expanding the patient population even further.
These key technologies, a steady cadence of product approvals and strategic execution have provided a great foundation for strong, sustainable growth.
“We’ve reshaped our company for the long run, and we’ve aligned to the most pressing medical needs,” Ford said. “We’ve had a history of setting ambitious goals and a culture of accountability to meeting those targets.”