What changed in this filing

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Item 1. Business

2026-02-20 compared with 2025-02-21 · 35 added, 35 removed, 186 unchanged (27% of the section changed)

2 unchanged sentences

Abbott’s* principal business is the discovery, development, manufacture, and sale of a broad and diversified line of healthcare products.

On November 19, 2025, Abbott entered into a definitive agreement to acquire Exact Sciences Corporation (Exact Sciences), which is expected to enable Abbott to enter the cancer diagnostics market.

The acquisition is subject to customary closing conditions, including the approval of Exact Sciences shareholders and obtaining the required regulatory clearances.

NARRATIVE DESCRIPTION OF BUSINESS

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and Duphalac™, for regulation of the physiological rhythm of the colon;

• women’s health products, including Duphaston™, for the treatment of many different gynecological disorders;

• women’s health products, including Duphaston™, for the treatment of gynecological disorders;

and Femoston™, a hormone replacement therapy for postmenopausal women;

• cardiovascular and metabolic products, including Lipanthyl™ and TriCor™, for the treatment of dyslipidemia;

• cardiovascular and metabolic products, including Lipanthyl™ and TriCor™, for the treatment of dyslipidemia and diabetic retinopathy;

Omacor™, for the treatment of hypertriglyceridemia;

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and Influvac™, an influenza vaccine;

• biosimilar products, including the areas of oncology and women's health.

• biologic products, which include biosimilars in the areas of oncology, immunology, and women's health.

The Established Pharmaceutical Products segment directs its primary marketing efforts toward building strong brands with key stakeholders, including consumers, pharmacists, physicians, and other healthcare providers.

Government agencies are also important customers.

Competition in the Established Pharmaceutical Products segment is generally from other healthcare and pharmaceutical companies.

In addition, the substitution of generic drugs for the brand prescribed and introduction of additional forms of already marketed established products by generic or branded competitors may increase competitive pressures.

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* As used throughout the text of this report on Form 10-K, the term “Abbott” refers to Abbott Laboratories, an Illinois corporation, or Abbott Laboratories and its consolidated subsidiaries, as the context requires.

Competition in the Established Pharmaceutical Products segment is generally from other healthcare and pharmaceutical companies.

Diagnostic Products

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and a toxicology business for drug and alcohol testing;

• informatics and automation solutions for use in laboratories, including laboratory automation systems such as the GLP systems Track™, the RALS ® point-of-care solution, and AlinIQ ® , a suite of informatics tools and professional services.

• informatics and automation solutions for use in various care settings, including laboratory automation systems such as the GLP systems Track™, AlinIQ ® , a suite of informatics tools and professional services, the Indexor ® system for pre-analytics sample traceability, and the RALS ® point-of-care solution.

The Diagnostic Products segment’s products are subject to competition in technological innovation, price, convenience of use, service, instrument warranty provisions, product performance, laboratory efficiency, long-term supply contracts, and product potential for overall cost-effectiveness and productivity gains.

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• various forms of infant formula and follow-on formula, including Similac ® , Similac ® 360 Total Care ® , Similac Pro-Advance ® , Similac ® Advance ® , Similac 360 Total Care ® Sensitive, Similac Sensitive ® , Go & Grow by Similac ® , Similac ® NeoSure ® , Similac ® Organic, Similac ® Special Care ® , Similac Total Comfort ® , Similac ® Soy Isomil ® , Similac ® Alimentum ® , EleCare ® , Gain™, and Grow™;

• adult and other pediatric nutritional products, including Ensure ® , Ensure Plus ® , Ensure ® Enlive ® , Ensure ® NutriVigor™, Ensure ® Max Protein, Ensure ® High Protein, Glucerna ® , Glucerna Hunger Smart ® , ProSure™, PediaSure ® , PediaSure SideKicks ® , PediaSure ® Peptide, Juven ® , Abound™, and Pedialyte ® ;

• adult and other pediatric nutritional products, including Ensure ® , Ensure Plus ® , Ensure ® NutriVigor™, Ensure ® Max Protein, Ensure ® High Protein, Glucerna ® , Glucerna Hunger Smart ® , ProSure™, PediaSure ® , PediaSure ® Peptide, Juven ® , Abound™, and Pedialyte ® ;

• nutritional products used in enteral feeding in healthcare institutions, including Jevity ® , Glucerna ® 1.2 Cal, Glucerna ® 1.5 Cal, Osmolite ® , Oxepa ® , Freego™ (Enteral Pump) and Freego™ sets, Nepro ® , and Vital ® .

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Competition for nutritional products in the segment is generally from other diversified consumer and healthcare manufacturers.

Competitive factors include consumer advertising, formulation, packaging, scientific innovation, price, retail distribution, and availability of product forms.

Competitive factors include consumer preferences, advertising, formulation, packaging, scientific innovation, price, retail distribution, and availability of product forms.

A significant aspect of competition is the search for ingredient innovations.

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Medical Devices

These products include a broad line of rhythm management, electrophysiology, heart failure, vascular and structural heart devices for the treatment of cardiovascular diseases, and diabetes care and continuous glucose monitoring products, as well as neuromodulation devices for the management of chronic pain and movement disorders.

These products include a broad line of rhythm management, electrophysiology, heart failure, vascular, and structural heart devices for the treatment of cardiovascular diseases, and diabetes care and continuous glucose monitoring (CGM) products, as well as neuromodulation devices for the management of chronic pain and movement disorders.

Medical devices are manufactured, marketed and sold worldwide.

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• rhythm management products, including Assurity MRI ® and Endurity MRI ® pacemaker systems, and Aveir ® single-chamber (VR and AR) and Aveir ® dual chamber (DR) leadless pacemaker systems;

Ellipse ® , Fortify Assura ® , and Gallant ® implantable cardioverter defibrillators and Gallant and Quadra Assura MP ® implantable cardioverter defibrillator with cardiac resynchronization therapy and MultiPoint™ Pacing technology;

Ellipse ® , Fortify Assura ® , and Gallant ® implantable cardioverter defibrillators (ICD) and Gallant and Quadra Assura MP ® ICD with cardiac resynchronization therapy and MultiPoint ® Pacing technology;

and Confirm Rx ® , Jot Dx ® and ASSERT-IQ ® implantable cardiac monitors;

• electrophysiology products, including the TactiFlex ® and TactiCath ® families of ablation catheters, and FlexAbility ® irrigated ablation catheters;

EnSite ® family of cardiac mapping systems;

• electrophysiology products, including the Volt ® Pulsed Field Ablation System, the TactiFlex ® and TactiCath ® families of ablation catheters, including the TactiFlex™ Duo Ablation Catheter, Sensor Enabled™, and FlexAbility ® irrigated ablation catheters;

the EnSite ® family of cardiac mapping systems;

Agilis ® NxT and Swartz™ introducer catheters;

the Advisor ® HD Grid mapping catheter;

and ViewFlex ® family of intracardiac echocardiography catheters;

and the ViewFlex ® family of intracardiac echocardiography catheters;

• heart failure related products, including the HeartMate ® left ventricular assist device family;

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StarClose SE ® , Perclose ProGlide ® and Perclose ProStyle ® vessel closure devices, TREK ® coronary balloon dilatation products, Hi-Torque Balance Middleweight Universal II ® guidewires, Supera ® Peripheral Stent System, a peripheral vascular stent system;

Acculink ® /Accunet ® and Xact ® /Emboshield NAV6 ® , carotid stent systems;

the OPTIS ® integrated systems with Ultreon ® 1.0 and 2.0 Software, compatible with the Dragonfly OPTIS ® and OpStar ® imaging catheters and PressureWire ® fractional flow reserve measurement systems;

Acculink ® and Xact ® /Emboshield NAV6 ® , carotid stent systems;

the OPTIS ® integrated systems with Ultreon ® 1.0 and 2.0 Software, compatible with the Dragonfly OPTIS ® and Dragonfly OpStar ® imaging catheters and PressureWire ® fractional flow reserve measurement systems;

Diamondback 360 ® coronary and peripheral orbital atherectomy systems;

and Esprit™ BTK everolimus eluting resorbable scaffold system;

and the Esprit™ BTK everolimus eluting resorbable scaffold system;

• structural heart products, including MitraClip ® , a mitral valve transcatheter edge-to-edge repair system;

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Epic ® , a surgical family of aortic valve and mitral valve replacement devices;

Portico ® and Navitor ® transcatheter aortic heart valves;

Navitor ® transcatheter aortic heart valves;

Regent™ and Masters Series™ mechanical heart valves;

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and the Tendyne ® transcatheter mitral valve replacement system;

• continuous glucose and blood glucose monitoring systems under the FreeStyle ® brand such as the FreeStyle Libre ® system, including sensors, data management decision software, test strips, and accessories for people with diabetes;

and the Lingo ® continuous glucose monitoring system, including sensors and data management decision software for people’s health and wellness;

• continuous glucose and blood glucose monitoring systems under the FreeStyle ® and Libre ® brands such as the FreeStyle Libre ® system, including sensors, data management decision software, test strips, and accessories for people with diabetes;

and the Lingo ® CGM system, including sensors and data management decision software for people’s health and wellness;

• neuromodulation products, including spinal cord stimulators Proclaim ® Plus and Proclaim ® XR recharge-free implantable pulse generators (IPG) and rechargeable Eterna ® IPG, each with BurstDR ® stimulation, and Proclaim ® DRG IPG, a neurostimulation device designed for dorsal root ganglion therapy, for the treatment of chronic pain disorders;

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Human Capital

The sustainability of Abbott’s business depends on attracting, engaging and developing talented people with diverse backgrounds who share Abbott’s mission to help people live their healthiest possible lives.

The sustainability of Abbott’s business depends on attracting, engaging and developing talented people with a variety of perspectives who share Abbott’s mission to help people live their healthiest possible lives.

Abbott provides its employees opportunities to grow and develop their careers, market competitive compensation and benefit programs, and the satisfaction of being part of a global company dedicated to improving health in more than 160 countries.

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All levels of employees participate in Abbott’s annual performance management process to create development plans that support their particular career objectives, and Abbott provides a broad range of training, mentoring and other development opportunities to help its employees meet these objectives.

The board of directors conducts an annual Talent Management Review, focusing on development of talent, diversity, and succession planning for critical positions.

Similar reviews take place across Abbott to develop talent and diversity across the organization.

Diversity and Inclusion

Abbott is committed to fostering a workplace that is inclusive for all.

The Board of Directors conducts an annual Talent Management Review, focusing on development of talent and succession planning for critical positions.

Similar reviews take place across Abbott to develop talent across the organization.

Creating a culture of belonging is inherent to Abbott's business, from its leadership and benefits to its employee networks and programs.

Abbott is committed to fostering a workplace environment that allows its employees to reach their full potential.

Abbott ties executive compensation to human capital management to sustain an inclusive culture and the fair and balanced treatment of Abbott’s employees.

Abbott's diversity, equity, and inclusion report provides an update on the plans, strategies, and actions undertaken to ensure that Abbott continues to attract, retain, and develop the best talent from the more than 160 countries in which it does business.

Abbott’s employee networks play an important role in building an inclusive culture across all Abbott operations.

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since 2012 and since 2021, students who complete the program receive a college credit recommendation from the American Council on Education.

The program’s objective is to increase the number of students pursuing STEM-related careers and contribute to a more diverse talent pipeline for Abbott.

The program’s objective is to increase the number of students pursuing STEM-related careers and advance the pipeline for Abbott.

Health and Safety

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Compensation and Benefits

Abbott is committed to building, retaining, and motivating a diverse talent pipeline that can meet the current and future needs of its businesses.

To that end, Abbott provides market competitive compensation, healthcare benefits, continuing education benefits, pension and/or retirement savings plans, financial support for employees with student loan debt, and several programs to facilitate employees building an ownership stake in Abbott, including a global long-term incentive program for employees generally beginning at the manager level.

Abbott is committed to building, retaining, and motivating a talent pipeline that can meet the current and future needs of its businesses.

To that end, Abbott provides market competitive compensation, healthcare benefits, continuing education benefits, retirement plans, financial support for employees with student loan debt, and several programs to facilitate employees building an ownership stake in Abbott, including a global long-term incentive program for employees generally beginning at the manager level.

Abbott also has procedures and processes focused on ensuring employees receive equitable compensation, regardless of race or gender or other personal characteristics.

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Food and Drug Administration (FDA) and similar national and international regulatory agencies.

Government regulation by various international, supranational, federal and state agencies addresses (among other matters) the development and approval to market Abbott’s products, as well as the inspection of, and controls over, research and laboratory procedures, clinical investigations, product approvals and manufacturing, postmarket changes to products, labeling, packaging, supply chains, marketing and promotion, pricing and reimbursement, sampling, distribution, quality control, post-market surveillance, record keeping, storage, and disposal practices.

Government regulation by various international, supranational, federal and state agencies addresses (among other matters) the development and approval to market Abbott’s products, as well as the inspection of, and controls over, research and laboratory procedures, clinical investigations, product approvals and manufacturing, post-market changes to products, labeling, packaging, raw materials, supply chains, marketing and promotion, pricing and reimbursement, sampling, distribution, quality control, post-market surveillance, record keeping, storage, and product design and disposal practices.

In addition, Abbott’s laboratories and associated testing services are subject to comprehensive government regulation, including registration, certification, and licensure, by federal, state, and local agencies, such as the Centers for Medicare & Medicaid Services, the Drug Enforcement Administration, the Substance Abuse and Mental Health Services Administration, and their respective foreign counterparts.

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Compliance with these laws and regulations is costly and materially affects Abbott’s business.

Among other effects, healthcare regulations and significant changes thereto (such as the introduction of the Medical Devices Regulation and the In Vitro Diagnostic Medical Devices Regulation in the European Union) substantially increase the time, difficulty, and costs incurred in developing, obtaining and maintaining approval to market, and marketing newly developed and existing products.

Among other effects, regulations and significant changes thereto substantially increase the time, difficulty, and costs incurred in developing, obtaining and maintaining approval to market, and marketing newly developed and existing products.

Abbott expects this regulatory environment will continue to require significant technical expertise and investment to ensure compliance.

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A major focus is cost containment.

Efforts to reduce health care costs are also being made in the private sector, notably by healthcare payors and providers, which have instituted various cost reduction and containment measures.

Efforts to reduce healthcare costs are also being made in the private sector, notably by healthcare payors and providers, which have instituted various cost reduction and containment measures.

Abbott expects that insurers and providers will continue attempts to reduce the cost or utilization of healthcare products.

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As a result, through competitive bidding states obtain rebates from manufacturers of infant formula whose products are used in the program.

The Patient Protection and Affordable Care Act (the Affordable Care Act) includes provisions known as the Physician Payments Sunshine Act, which requires manufacturers of drugs, devices, and medical supplies covered under Medicare and Medicaid to record any transfers of value to physicians and teaching hospitals and to report this data to the Centers for Medicare & Medicaid Services for subsequent public disclosure.

The Patient Protection and Affordable Care Act (the Affordable Care Act) includes provisions known as the Physician Payments Sunshine Act, which require manufacturers of covered drugs, devices, and medical supplies to record any transfers of value to healthcare professionals and teaching hospitals and to report this data to the Centers for Medicare & Medicaid Services for subsequent public disclosure.

Similar reporting requirements have also been enacted at the state level domestically, and an increasing number of governments worldwide either have adopted or are considering similar laws requiring transparency of interactions with healthcare professionals.

Failure to report appropriate data may result in civil or criminal fines and/or penalties.

Policy changes or implementation of new healthcare legislation could result in significant changes to healthcare systems.

In the United States, this could include potential modification, including expansion or repeal of all or parts of the Affordable Care Act.

The regulation of data privacy and security, and the protection of the confidentiality of certain personal information (including patient health information, financial information, and other sensitive personal information) and non-personal information (including de-identified, anonymized, and other non-personal data), is expanding globally and becoming more complex.

For example, the European Union, China, various other countries, and various U.S.

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Failure to comply with data privacy and security laws and regulations can result in business disruption and enforcement actions, which could include civil or criminal penalties.

Transferring and managing protected information will become more challenging as laws and regulations are enacted or amended, and Abbott expects there will be increasing complexity in this area.

Transferring and managing protected information will become more challenging as laws and regulations are enacted or amended, and Abbott expects there will be increasing complexity and enforcement in this area.

Abbott expects debate to continue at all government levels worldwide over the manufacture, quality assurance requirements, marketing authorization processes, post-market surveillance requirements, availability, method of delivery, and payment for healthcare products and services, as well as data privacy and security.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business