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ABTAbbott Laboratories

Health care · Pharmaceuticals · NYSE

Abbott Laboratories is an Illinois corporation, incorporated in 1900. 10-K, Item 1

Employees
115,000
Headquarters
Abbott Park, IL
CEO
Robert B. Ford
Next results
around Jan 21, 2027
Compare with peers → Embed

10-K 0001628280-26-010185 (2026-02-20) vs 10-K 0001628280-25-007110 (2025-02-21)

SectionCompared textWords nowChanged
Risk FactorsItem 1A4,486 11.8%
MD&AItem 79,789 22.6%
Legal ProceedingsItem 3844 20.8%
Accounting PoliciesItem 8, Note 1 – Summary of Significant Accounting Policies1,668 2.5%

The redline: what was cut and what was added

In each section, the paragraph that changed most, marked against last year's 10-K: cut words struck through, new words highlighted and underlined.

Risk Factors 188 words changed in this paragraph; it is 36% similar to last year's version.
Many of these factors may manifest individually or collectively, For example, the global economy has been impacted by geopolitical tensions focused on trade, which has increased uncertainty for global businesses such as Russia’s invasion of Ukraine Abbott. The U.S. government has imposed tariffs on imports into the U.S., and it may impose additional tariffs in the future. Some countries may retaliate with trade protection measures, including reciprocal tariffs. These tariffs or other trade protection measures could have a negative impact on macroeconomic conditions, including inflation rates, foreign currency exchange rates, and interest rates, as well as causing potential disruptions to Abbott’s global supply chain, which could adversely affect its business. Additionally, the ongoing Russia-Ukraine conflict has resulted in political instability, sanctions, economic and currency volatility, inflation higher inflation, heightened cybersecurity risks, and other operational and supply chain disruptions. To date, Abbott has been able to manage these disruptions without material impact to its results of operations. However, it is difficult to predict the future implications and consequences of the situation conflict on local, regional regional, or global economies and Abbott’s operations. There could be additional sanctions, economic volatility, cybersecurity threats, political instability, transportation and other supply disruptions, as well as collection default or liquidity risks or limited availability of resources to conduct essential business processes that could have a material adverse impact to Abbott’s operations and financial condition. The resolution and long-term impact of this matter are uncertain and difficult to predict.

Source: Item 1A, 10-K 0001628280-26-010185 vs Item 1A, 10-K 0001628280-25-007110

MD&A 165 words changed in this paragraph; it is 63% similar to last year's version.
Pension and Post-Employment Benefits — Abbott offers pension benefits and post-employment health care healthcare to many of its employees. Abbott engages outside actuaries to assist in the determination of the obligations and costs under these programs. Abbott must develop long-term assumptions, the most significant of which are the health care healthcare cost trend rates, discount rates rates, and the expected return on plan assets. The discount rates used to measure liabilities were determined based on high-quality fixed income securities that match the duration of the expected retiree benefits. The health care healthcare cost trend rates represent Abbott’s expected annual rates of change in the cost of health care healthcare benefits and are a forward projection of health care healthcare costs as of the measurement date. A difference between the assumed rates and the actual rates, which will not be known for years, can be significant in relation to the obligations and the annual cost recorded for these programs. The net actuarial gains for Abbott's defined benefit plans in 2025 reflect the impact of actual asset returns during the year in excess of expected returns and the impact of higher discount rates on the measurement of plan liabilities. The net actuarial losses for Abbott's medical and dental plans primarily reflect an increase in claims. At December 31, 2025, pretax net actuarial gains (losses) and prior service costs and credits recognized in Accumulated other comprehensive income (loss) were net gains of $152 million for Abbott’s defined benefit plans and net losses of $189 million for Abbott’s medical and dental plans. Actuarial losses and gains are amortized over the remaining service attribution periods of the employees under the corridor method, in accordance with the rules for accounting for post-employment benefits. Differences between the expected long-term return on plan assets and the actual annual return are amortized over a five-year period.

Source: Item 7, 10-K 0001628280-26-010185 vs Item 7, 10-K 0001628280-25-007110

Legal Proceedings 145 words changed in this paragraph; it is 81% similar to last year's version.
In November 2022, Abbott learned that the United States Department of Justice, Justice (DOJ), through the United States Attorney’s Office for the Western District of Michigan, is conducting a criminal investigation related to Abbott’s manufacturing of powdered infant formula. In December 2022, Abbott received a subpoena from the Enforcement Division of the Commission requesting information relating to Abbott’s powder infant formula business and related public disclosures. In January 2023, Abbott received a civil investigative demand from the United States Federal Trade Commission seeking information in connection with its investigation of companies who participate in bids for WIC infant formula contracts. In addition, multiple civil lawsuits have been filed against Abbott relating to Abbott’s manufacturing of certain powder powdered infant formula products. Six shareholder derivative lawsuits against certain of Abbott’s current and former directors and officers are pending in a consolidated proceeding, In re Abbott Laboratories Infant Formula Shareholder Derivative Litigation, in the U.S. District Court for the Northern District of Illinois. The consolidated lawsuit seeks monetary damages from the defendants to Abbott. In re Abbott Laboratories Infant Formula Shareholder Derivative Litigation includes: Thomas P. DiNapoli, Controller of the State of New York, as Administrative Head of the New York State and Local Retirement System, and as Trustee of the New York State Common Retirement Fund, and International Brotherhood of Teamsters Local No. 710 Pension Fund and Southeastern Pennsylvania Transportation Authority, both filed in June 2023; David Hamilton filed in April 2023; Matthew Steele filed in February 2023; Ilene Lippman filed in January 2023; and Leon Martin filed in October 2022. In August 2024, the court granted in part and denied in part the defendants’ motion to dismiss, allowing the securities and breach of fiduciary duty claims to move forward. In September 2024, Abbott’s board Board of directors Directors established an independent and disinterested special litigation committee to investigate and evaluate the asserted claims. In November 2024, the special litigation committee filed a motion to stay the case in order to conduct its investigation. In February 2025, the court granted in part and denied in part the committee's motion, allowing written discovery to proceed. In November 2025, the DOJ intervened, in part, in a civil qui tam lawsuit previously filed under seal against Abbott by three private individuals in the U.S. District Court for the Western District of Michigan. The DOJ’s intervention is related to Abbott’s manufacturing of powdered infant formula products at its facility in Sturgis, Michigan. The DOJ alleges certain violations of the Federal False Claims Act and unjust enrichment, and it seeks various damages, including statutory penalties and disgorgement of profits. In December 2025, the Attorneys General of several states filed a consolidated complaint-in-intervention in the same lawsuit alleging violations of certain state laws, including false claims acts, and seeking damages and penalties.

Source: Item 3, 10-K 0001628280-26-010185 vs Item 3, 10-K 0001628280-25-007110

Accounting Policies 48 words changed in this paragraph; it is 40% similar to last year's version.
BASIS OF CONSOLIDATION — The consolidated financial statements include the accounts of the parent company company, subsidiaries, and subsidiaries, after elimination any variable interest entities for which Abbott is the primary beneficiary. Intercompany transactions are eliminated in consolidation. Investments in affiliates over which Abbott has a significant influence, but not a controlling interest, are accounted for using the equity method of intercompany transactions. accounting.

Source: Item 8, Note 1 – Summary of Significant Accounting Policies, 10-K 0001628280-26-010185 vs Item 8, Note 1 – Summary of Significant Accounting Policies, 10-K 0001628280-25-007110

Every change, by type

Sentences and paragraphs of ABT's Risk Factors and MD&A, 10-K 2026-02-20 against 10-K 2025-02-21. Each links to the text at sec.gov.

Quiet changes are sentences kept from last year with one to four words changed, at least one of them a hedge, a modal or a qualifier (may, could, will, not, significant, material…). A year or date rolling forward is not counted.

The full word listadverse, adversely, all, although, anticipate, anticipates, any, approximately, believe, believes, can, cannot, certain, could, expect, expects, generally, however, if, intend, intends, largely, likely, many, material, materially, may, might, most, must, never, no, not, possible, primarily, probable, should, significant, significantly, some, substantial, substantially, unlikely, will, would

AddedRisk Factors
Changes in geopolitical and macroeconomic conditions could negatively affect Abbott’s business, financial condition, and results of operations.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedRisk Factors
As a global healthcare company with sales outside of the U.S. making up approximately 61 percent of Abbott’s net sales in 2025, Abbott’s business is subject to geopolitical and macroeconomic risks that are beyond its control. These risks include the enactment of trade protection measures such as tariffs, import or export licensing requirements, other governmental restrictions such as trade sanctions, and changes to international trade agreements; government actions such as price controls, limitations on participation in local enterprises, expropriation, and nationalization; restrictions on local currency conversion and/or cash extraction; changes in inflation (including the cost of raw materials, labor, commodities, and supplies) and interest rates; and fluctuations in foreign currency exchange rates. Abbott is also subject to other geopolitical risks, such as war, political and geopolitical instability, terrorist attacks and related military action.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedRisk Factors
•additional challenges of doing business internationally, including differing local product preferences and product requirements, difficulty in establishing, staffing, and managing operations, and differing labor regulations;

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedRisk Factors
•climate and public health-related events, including global climate change, extreme weather and natural disasters, public health crises such as widespread outbreaks of infectious diseases, and the cost and availability of insurance due to any of the foregoing events;

Read it in 10-K 2026-02-20 at sec.gov ↗

RemovedRisk Factors
and economic conditions, and reducing funds available for working capital, capital expenditures, acquisitions, and other general corporate purposes.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
Abbott is subject to risks related to public health crises, such as widespread outbreaks of infectious diseases, which could have a material effect on Abbott’s business, financial condition and results of operations.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
As a global healthcare company, public health crises, such as the widespread outbreaks of infectious diseases, may negatively impact certain Abbott's operations. Health concerns and significant changes in political or economic conditions caused by such outbreaks can cause, and during the COVID-19 pandemic caused, significant reductions in demand for certain products, increased difficulty in serving customers, disruptions to manufacturing and supply chains, and negative effects on certain of Abbott’s operations as well as the operations of its suppliers, distributors and other third-party partners. Furthermore, such widespread outbreaks may impact, and during the COVID-19 pandemic impacted, the broader

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
economies of affected countries, including negatively impacting economic growth, the proper functioning of financial and capital markets, inflation rates, foreign currency exchange rates, and interest rates.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
The international nature of Abbott’s business subjects it to additional business risks that may cause its revenue and profitability to decline.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
Abbott’s business is subject to risks associated with managing a global supply chain and doing business internationally. Sales outside of the United States in 2024 made up approximately 61 percent of Abbott’s net sales. Additional risks associated with Abbott’s international operations include:

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
•trade protection measures, including tariffs, import or export licensing requirements, other governmental restrictions such as trade sanctions, and changes to international trade agreements;

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
•potential penalties or other adverse consequences for violations of anti-corruption, anti-bribery, anti-competition, and other similar laws and regulations, including the Foreign Corrupt Practices Act and the U.K. Bribery Act.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
Events contemplated by these risks may, individually or in the aggregate, have a material adverse effect on Abbott’s revenues and profitability.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
•changes in business, economic, and geopolitical conditions, including: war, political instability, terrorist attacks, the threat of future terrorist activity and related military action; global climate change, extreme weather and natural disasters; the cost and availability of insurance due to any of the foregoing events; labor disputes, strikes, slow-downs, or other forms of labor or union activity; and pressure from third-party interest groups;

Read it in 10-K 2025-02-21 at sec.gov ↗

RewordedRisk Factors
In addition, violations of these laws, or allegations of such violations, could disrupt Abbott’s business and result in a material adverse effect on Abbott’s revenues, profitability, and financial condition.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedRisk Factors
Abbott may not complete these transactions in a timely manner, on a cost-effective basis, or at all, and the expected benefits may not realize be realized or may not be realized within the expected benefits. time period.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedRisk Factors
Abbott has indebtedness, will incur additional indebtedness in connection with the Exact Sciences acquisition, which could adversely affect its business, including decreasing its business flexibility.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedRisk Factors
Further, the development of new technology, technologies, including disruptive technologies such as artificial intelligence, healthcare products and medicines, and the development of new treatments for disease could significantly change the competitive landscape of the healthcare industry and negatively impact the demand for certain Abbott products.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedRisk Factors
Abbott cannot predict with certainty the timing or impact of the introduction of competitors’ products and technological advances. advances on Abbott's results of operations.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedRisk Factors
This increase in Abbott's consolidated indebtedness could have the effect, among other things, of reducing Abbott's flexibility to respond to changing business and economic conditions.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedRisk Factors
These requirements include, among other things, regulations regarding manufacturing practices, testing requirements, product labeling, postmarket post-market changes to products, advertising, and postmarketing post-marketing reporting, including adverse event reports and field alerts.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedRisk Factors
However, it is difficult to predict the future implications and consequences of the situation conflict on local, regional regional, or global economies and Abbott’s operations. operations

Read it in 10-K 2026-02-20 at sec.gov ↗

Quiet changesRisk Factors
While Abbott enters into hedging arrangements to mitigate some of its foreign currency exposure, Abbott cannot predict with any certainty changes in foreign currency exchange rates or its ability to mitigate these risks.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
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. Under the terms of the agreement, Abbott will pay $105 per common share in cash at the completion of the transaction, representing a total equity value of approximately $21 billion and an estimated enterprise value of $23 billion. Abbott's financing contemplates absorption of Exact Sciences' estimated $1.8 billion of net debt.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
On November 19, 2025, Abbott obtained a commitment for a 364-day senior unsecured bridge term loan facility for an amount not to exceed $20.0 billion in conjunction with its pending acquisition of Exact Sciences. While Abbott plans to fund this transaction with cash on hand and borrowings, the bridge facility will provide back-up financing.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
•U.S. Food and Drug Administration (FDA) approval and CE Mark for the Volt™ Pulsed Field Ablation (PFA) System to treat patients with atrial fibrillation,

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
•CE Mark for TactiFlex™ Duo Ablation Catheter, Sensor Enabled™, designed to deliver radiofrequency (RF) and PFA energy to treat patients battling atrial fibrillation, and

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
•CE Mark for an expanded indication for the Navitor® transcatheter aortic valve implantation (TAVI) system to treat people with symptomatic, severe aortic stenosis who are at low or intermediate risk for open-heart surgery.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
In Heart Failure, sales grew 12.7 percent in 2025 and 10.3 percent in 2024, excluding the effect of foreign exchange. The increase primarily reflects growth across the portfolio of ventricular assist devices and related accessories, as well as growth in CardioMEMs®, an implantable sensor used for the early detection of heart failure.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
In July 2024, Abbott received a $413 million tax assessment from the Malaysian tax authorities for the 2023 tax year. The assessment applies a property capital gains tax on the value of the shares associated with the intercompany sale of an affiliate. Abbott believes the assessment of the Malaysian tax authority to be without merit. In October 2025, the Penang High Court upheld the assessment of the Malaysian tax authority. In October 2025, Abbott filed an appeal with the Malaysian Court of Appeals.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
On November 19, 2025, Abbott obtained a commitment for a 364-day senior unsecured bridge term loan facility for an amount not to exceed $20.0 billion in conjunction with its pending acquisition of Exact Sciences. While Abbott plans to fund this transaction with cash on hand and borrowings, the bridge facility will provide back-up financing.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
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. Under the terms of the agreement, Abbott will pay $105 per common share in cash at the completion of the transaction, representing a total equity value of approximately $21 billion and an estimated enterprise value of $23 billion. Abbott's financing contemplates absorption of Exact Sciences' estimated $1.8 billion of net debt.

Read it in 10-K 2026-02-20 at sec.gov ↗

AddedMD&A
On November 19, 2025, Abbott obtained a commitment for a 364-day senior unsecured bridge term loan facility for an amount not to exceed $20.0 billion in conjunction with its pending acquisition of Exact Sciences. While Abbott plans to fund this transaction with cash on hand and borrowings, the bridge facility will provide back-up financing.

Read it in 10-K 2026-02-20 at sec.gov ↗

RemovedMD&A
•U.S. Food and Drug Administration (FDA) clearance for two new over-the-counter CGM systems, Lingo® and Libre Rio™, which are based on Abbott's FreeStyle Libre® CGM technology,

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
•FDA approval of the Esprit™ below-the-knee (BTK) system, which is designed to keep arteries open in people living with peripheral artery disease and deliver a drug to support vessel healing prior to completely dissolving,

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
•CE Mark for the Aveir® dual chamber (DR) leadless pacemaker system, which is the world's first dual chamber leadless pacemaker system that treats people with abnormal or slow heart rhythms, and

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
•FDA clearance for Advisor® HD Grid X Mapping Catheter, Sensor Enabled™, which will further support mapping of both pulsed field ablation (PFA) and radiofrequency (RF) ablation cases.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
In February 2022, Abbott’s U.S. Pediatric Nutrition business was impacted by a voluntary recall of certain infant powder formula products manufactured at its facility in Sturgis, Michigan, at which time the company temporarily stopped operations at that facility. Abbott took various actions to mitigate the impact of the recall on the supply of formula in the U.S. Abbott resumed operations later in 2022 and made significant progress through 2023 to increase production of infant formula in the U.S and recover market share. Beginning in the fourth quarter of 2023 and through 2024, Abbott has regained and maintained its market-leading position in the U.S., as measured on a volume basis.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
Management analyzes the adequacy of ending rebate accrual balances each quarter. In the domestic nutritional business, management uses both internal and external data available to estimate the accruals. In the WIC business, estimates are required for the amount of WIC sales within each state where Abbott holds the WIC contract. The state where the sale is made, which is the determining factor for the applicable rebated price, is reliably determinable. Rebated prices are based on contractually obligated agreements generally lasting a period of two to four years. Except for a change in contract price or a transition period before or after a change in the supplier for the WIC business in a state, accruals are based on historical redemption rates and data from the U.S. Department of Agriculture (USDA) and the states submitting rebate claims. The USDA, which administers the WIC program, has been making its data available for many years. Management also estimates the states' processing lag time based on sales and claims data. Management has access to several large customers' inventory management data, which allows management to make reliable estimates of inventory in the retail distribution channel. At December 31, 2024, Abbott had WIC business in 42 states.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
Notes: The Acelis Connected Health business was internally transferred from Diagnostic Products to Medical Devices on January 1, 2023. As a result, $115 million of sales in 2022 were moved from Diagnostic Products to Medical Devices.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
Rapid Diagnostics sales, excluding COVID-19 testing-related sales, increased 4.8 percent in 2024 and remained unchanged in 2023. In 2024, Rapid Diagnostics sales increased 6.0 percent, excluding the impact of foreign exchange and COVID-19 testing-related sales, due to strong demand for respiratory disease tests used to diagnose influenza, strep throat and RSV. In 2023, Rapid Diagnostics sales increased 1.3 percent, excluding the impact of foreign exchange and COVID-19 testing-related sales. Growth in various Rapid Diagnostics products in 2023 was partially offset by the unfavorable effects of an early 2022 flu season and a later start of the 2023 flu season.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
Procedure volumes continued to increase across the cardiovascular and neuromodulation businesses in 2024. In Structural Heart, excluding the effect of foreign exchange, the 17.0 percent and 14.3 percent sales increases in 2024 and 2023, respectively, reflect continued growth of the Navitor® and TriClip® products, as well as growth in surgical valves, structural interventions and other transcatheter repair sales.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
In Heart Failure, the 10.3 percent increase in sales in 2024, excluding the effect of foreign exchange, primarily reflects growth in heart assist devices, which offer treatment for chronic and temporary conditions. In 2023, Heart Failure sales increased 12.0 percent, excluding the effect of foreign exchange, as procedure volumes and staffing challenges, which occurred during the COVID-19 pandemic, began to recover.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
In Vascular, the 6.7 percent increase in 2024, excluding the impact of foreign exchange, was primarily due to higher vessel closure sales. In 2023, the 9.3 percent increase, excluding the impact of foreign exchange, was primarily due to the acquisition of CSI in April 2023.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
Established Pharmaceuticals — Abbott focuses on building country-specific portfolios made up of high-quality medicines that meet the needs of people in emerging markets. Over the next several years, Abbott plans to expand its

Read it in 10-K 2025-02-21 at sec.gov ↗

RewordedMD&A
The 2024 and 2023 sales decreases were driven by continued lower demand for the company's portfolio of COVID-19 tests, decrease was partially offset by higher volume of routine diagnostic tests in the Rapid Diagnostics and Core Laboratory businesses and the continued deployment of Abbott's Alinity® testing platform. platform and digital health solutions, as Abbott continues to expand its diagnostic test menus.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
In its the diagnostics business, Abbott's businesses, Abbott will focus will include on driving sales growth from its Alinity suite of diagnostics instruments along with diagnostic instruments, including expanded menu offerings and GLP track integration and integration, as well as its portfolio of rapid diagnostic testing systems. systems, and growing digital health solutions.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
Core Laboratory Diagnostics — Abbott continues to commercialize its next-generation blood and plasma screening, immunoassay, clinical chemistry and hematology systems, along with assays, including Assay development pipelines include a focus on unmet medical needs, in various areas including infectious disease, cardiac care, metabolics, oncology, women’s health, and neurologic assays assays, as well as informatics solutions to help optimize diagnostics diagnostic laboratory performance and automation solutions to increase efficiency in laboratories.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
The increase in 2023 2025 primarily reflects the favorable effects effect of higher sales and a continued focus on margin improvement initiatives, initiatives and price increases, partially offset by higher commodity continued inflation in manufacturing and other costs. input costs and the impact of foreign exchange.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
Abbott’s net sales in 2024 2025 were unfavorably not significantly impacted by changes in foreign exchange rates as the relatively stronger U.S. dollar decreased at the beginning of the year weakened later in the year, resulting in a 0.2 percent favorable impact on total international sales by 4.2 percent and total sales by 2.6 percent. sales.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
In Abbott’s Nutritional Products segment, total pediatric nutrition sales, 2024, excluding the impact of foreign exchange, total pediatric nutrition sales increased 3.7 percent in 2024 and 14.8 percent in 2023, percent, which includes included market share recovery in the U.S. infant formula business following the voluntary recall of certain products in 2022, as discussed below, and the continued favorable impact of price increase initiatives. increases.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
The sales increase Sales growth in 2024 both periods was broad-based across countries and was led by higher revenue in several countries in Latin America, Southeast Asia and the Middle East and across several multiple therapeutic areas, including respiratory, cardiometabolic, gastroenterology, cardiometabolic and central nervous system/pain management.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
Electrophysiology sales, excluding the effect of foreign exchange, increased 11.6 percent in 2025 and 14.4 percent in 2024 and 15.9 percent in 2023 which 2024, primarily reflects due to higher procedure volumes and increased demand for catheters Abbott's portfolio of products designed to diagnose and treat cardiac mapping products across all regions. arrhythmias.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
Excluding the impact of foreign exchange, total adult nutrition sales increased 2.7 percent in 2025 and 8.0 percent in 2024 2024, reflecting growth in international markets and 8.8 percent in 2023, led by the continued growth favorable impact of Abbott's Ensure® and Glucerna® products. price increases.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
Excluding the effect of foreign exchange, Diagnostic Products segment sales decreased 4.5 percent in 2025 and 3.9 percent in 2024 due to the continued decline in COVID-19 testing-related sales and 38.2 percent challenging market conditions in 2023, driven by lower demand for COVID-19 tests. China.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
Debt — Principal payments required on long-term debt outstanding at December 31, 2024 2025, are $1.5 billion in 2025, $2.9 $3.0 billion in 2026, $617 $700 million in 2027, $653 million in 2028, $591 million in 2029, $650 million in 2028, $583 million in 2029 2030, and $8.0 $7.4 billion in 2030 2031 and thereafter.

Read it in 10-K 2026-02-20 at sec.gov ↗

RewordedMD&A
The increase in 2024 was In 2024, sales increased due to the continued deployment of Abbott's Alinity® testing platform and higher volume of routine diagnostic testing performed in hospitals and other laboratories along with price increases, partially offset by lower sales in China. increases.

Read it in 10-K 2026-02-20 at sec.gov ↗

Quiet changesMD&A
Interest expense decreased in 2024 due to the repayment of approximately $2.25 billion of long-term debt in September and November of 2023, partially offset by a reduction in interest income due to lower average cash and short-term investment balances versus the prior year.

Read it in 10-K 2026-02-20 at sec.gov ↗

Quiet changesMD&A
In 2024 and 2023, Abbott repurchased approximately 10.2 million and 9.8 million, respectively, of its common shares for $1.1 billion and $1.0 billion, respectively, under the 2021 repurchase program.

Read it in 10-K 2026-02-20 at sec.gov ↗

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