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Abbott Builds Long-Term Commitment in China

Companies mentioned in this article: Abbott

ABBOTT PARK, Ill., July 10, 2014 /PRNewswire/ -- Today's announcement of a proposed strategic alliance with Fonterra to develop dairy farms is the latest in a series of investments Abbott (NYSE: ABT) has made in China, deepening its commitment in the country. In June, Abbott opened a state-of-the-art nutritional manufacturing facility in Jiaxing, and earlier this year, Abbott opened two research and development centers in Shanghai. In 2014, Abbott has announced more than US$400 million (2.5 billion RMB) of investments in its China operations.

Abbott has made these investments in order to improve people's nutrition and health, and further establish the company as a long-term partner in China's development. Today, Abbott has more than 4,000 employees in China. Abbott investments and engagements in China include:

    --  Collaboration with the government since 2008 to strengthen nutritional
        science and testing capabilities, and share technical expertise to
        promote food safety.
    --  Operation of a medical optics facility in Hangzhou, a pharmaceutical
        facility in Shanghai, and new research and development centers for its
        nutrition and diagnostics businesses in Shanghai.
    --  Creation of the Abbott Crossroads Institute training center in Shanghai,
        which educates healthcare providers in coronary, endovascular and
        structural heart interventions.
    --  Implementation of innovative initiatives across Abbott's China
        manufacturing operations to reduce emissions, water use and waste, and
        to make product packaging more sustainable.
    --  Establishment of the Abbott Fund Institute of Nutrition Science (AFINS),
        in partnership with Shanghai Children's Medical Center and the global
        non-profit organization Project HOPE. The partnership, which operated
        from 2007 through this year, strengthened clinical pediatric nutrition
        practices, training, research and community outreach.

"Our goal is to help people live healthier lives," said Miles D. White, chairman and chief executive officer, Abbott. "That means investing in the countries where we live and work. We're committed to using our science, our product quality and educational efforts to raise the level of health in China and around the world."

About Abbott
Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals, Abbott serves people in more than 150 countries and employs approximately 69,000 people.

In China, Abbott has more than 4,000 employees working in manufacturing, research and development, logistics, sales and marketing. Primary locations in China are in Shanghai, Beijing and Jiaxing.

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