CORPORATE POLITICAL PARTICIPATION

GOVERNMENT AFFAIRS

Public policy has the potential to enable the development of the next generation of medical advances and unlock the power of health. Abbott's role in these discussions is to work to ensure that policy positively impacts the people who rely on our work, our employees and our ability to continue to develop new products. At the federal and state levels, we engage with governments, think tanks, trade associations, patient groups and other organizations to find policy solutions to the complex issues that challenge our healthcare system. It is our responsibility to help policymakers understand Abbott's viewpoints on major healthcare issues.

 

Abbott's public policy engagement is guided by the following principles:

  • Abbott is committed to ethical behavior and transparency and is guided by our Code of Business Conduct in all our activities, including public policy engagement. Abbott's public policy activities comply with all applicable laws and regulations and adhere to Abbott policies. Abbott, relevant Abbott employees, and external lobbyists and firms register as lobbyists and file lobbying and contribution disclosures as required by applicable law.
  • The Government Affairs function has the primary responsibility for public policy engagement in the U.S. under the direction of the Vice President of U.S. Government Affairs. The Public Policy Committee of the Board of Directors reviews an annual report of Abbott's public policy activities, including advocacy priorities, political contributions, lobbying activities, and trade association memberships and dues.
  • Abbott pursues activities to shape policies that impact the Company and benefit the people who need our products, with a focus on improving access to new medical advances, and helping people live fuller, healthier lives.

 

Abbott's Government Affairs function, under the direction of the Vice President, U.S. Government Affairs, is responsible for our U.S. advocacy activities, including managing all direct advocacy at the federal, state, and local levels, and managing Abbott's relationships with trade associations and similar groups with respect to their advocacy efforts. Our Federal Government Affairs office in Washington, D.C. is responsible for advocacy activities with the U.S. Congress and the federal government. Advocacy at the U.S. state level is managed by our State Government Affairs function. Abbott also hires outside firms that can provide expertise on our key policy issues. Abbott does not currently make direct expenditures towards U.S. federal or state grassroots lobbying communications to the general public. Were Abbott to engage in this area, such activity would be managed by the Vice President of U.S. Government Affairs.

 

The Public Policy Committee of the Abbott Board of Directors is responsible for oversight of Abbott's Government Affairs function and public policy issues that affect or could affect Abbott's business, performance, and public image, as well as reviewing and evaluating Abbott's governmental affairs and political participation, including advocacy priorities, political contributions, lobbying activities, and trade association memberships. The Public Policy Committee also has responsibility for evaluating Abbott's sustainability and social responsibility practices and reviewing social, political, economic, and environmental trends. For additional information regarding Abbott's Public Policy Committee, please refer to the Committee's charter.

 

Abbott is committed to enabling people to live fuller, healthier lives through better health and we strive to make an impact on policies and priorities that have a positive effect on people's health and well-being, including enabling broader accessibility to and affordability of medical innovation. In furtherance of this commitment, Abbott engages in advocacy with respect to public policy developments that may have a significant impact on this objective and on its business. Abbott regularly engages in advocacy on the following issues: promoting access to medical innovation; promoting competitive tax policy that enhances innovation; global trade issues; strengthening our supply chain; and promoting sustainability and responsible stewardship of our resources.

 

Abbott files quarterly reports, in compliance with the Lobbying Disclosure Act, that include: 1) total federal lobbying expenditures, 2) the name of the specific piece of legislation or subject that was the topic of communication, 3) disclosure of Abbott individuals who lobbied on behalf of Abbott and 4) identification of the legislative body or executive branch that was contacted. The quarterly reports provide additional detail on active lobbying priorities and incorporate expenses associated with lobbying the federal government, including our Federal Government Affairs office and the portion of trade association dues associated with federal lobbying. In 2021, Abbott reported $4,210,000 in U.S. federal lobbying. Abbott's latest Federal lobbying disclosure filings can be found on the U.S. Senate Office of Public Records website or the U.S. House of Representatives Office of the Clerk website.  The Public Policy Committee of the Abbott Board of Directors reviews an annual report of our advocacy priorities.

 

Download Abbott's most recent LD-2 here. Please see below to download previous quarters' reports of Abbott's LD-2.

 

CORPORATE CONTRIBUTIONS

Abbott participates in the political process by contributing to U.S. state and local candidates and political organizations. We support candidates and organizations that understand how government actions can affect access to medical advances, and that will work to promote an environment that fosters continued medical progress. We have not made direct independent expenditures on behalf of candidates running for public office and do not have plans to make independent expenditures. If such expenditures are made, they will be included in our semi-annual report.

 

Contributions to office holders and candidates are bipartisan, made without regard for the private political preferences of our officers and executives, and based on several criteria: 1) a philosophy that reflects Abbott's commitment to supporting access to medical innovation and improving lives through good health, 2) key legislative committee and/or leadership assignments, 3) represents an Abbott facility or a significant number of Abbott employees, 4) electability and need for financial support.

 

Abbott's Government Affairs function, under the direction of the Vice President, U.S. Government Affairs, reviews and approves all corporate political contributions to ensure these contributions are consistent with the company's guidelines and in accordance with applicable laws. The Public Policy Committee of the Abbott Board of Directors annually reviews the company's U.S. political contributions policy and a report of the company's U.S. political contributions.

 

Download the 2021 Corporate Political Contributions Report for January–December here. Please see below to download previous years' reports of Abbott's corporate contributions to political candidates, political parties, political committees, ballot measure committees and organizations operating under 26 USC Sec. 527 of the Internal Revenue Code.

TRADE ASSOCIATION MEMBERSHIPS

Abbott is a member of U.S. trade organizations that engage in lobbying and other political activity to champion and protect the interests of Abbott, our industry and, most importantly, the people who rely on our products to achieve good health. Each year, the Government Affairs function, under the direction of the Vice President of U.S. Government Affairs, assesses our participation in trade associations and other tax-exempt organizations that write and endorse model legislation. These industry and trade groups and similar organizations generally represent the healthcare community and the broader business community. Collaboration and cooperation with a wide array of people and organizations are critical to meet the needs of patients today. We strive to align with organizations whose overall advocacy platform demonstrates values that mirror our own. An organization's membership and robust governance process collectively drives the development of individual positions. We pride ourselves on taking an active role in the trade associations we have joined, expressing our opinions and making the case for the position we believe will produce the most appropriate policy outcomes. Abbott's participation as a member of these various industry and trade groups comes with the understanding that we may not always agree with the positions of the larger organization and/or other members. We raise our concerns, as needed and as appropriate, on issues that we believe are important to us and our stakeholders.

 

The Public Policy Committee of the Abbott Board of Directors reviews an annual report of our major trade association memberships, the amount of dues and the amount used for lobbying.

 

Below is a list of U.S. trade associations to which Abbott paid dues of $50,000 or more in 2021, and which lobby in the U.S. at the federal level. Also provided for each trade association is the percentage of the 2021 dues they collect from member companies utilized by that organization for federal lobbying.

 

  • Advanced Medical Technology Association (17%)
  • BIOCOM California (10%)
  • Business Roundtable (40%)
  • California Life Sciences Association (22%)
  • Columbus Partnership (5%)
  • Consumer Brands Association (9%)
  • Council for Responsible Nutrition (14%)
  • Infant Nutrition Council of America (5%)
  • International Dairy Foods Association (14%)
  • Medical Alley Association (15%)
  • Medical Device Manufacturers Association (30%)
  • National Association of Manufacturers (25%)
  • US Chamber of Commerce (20%) 

 

To download previous years' trade association membership reports, please see below.

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