Abbott Laboratories 2012 Annual Report Download - page 6

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cases occurring in emerging markets. Abbott can help the world address these
growing needs, as the number-one coronary intervention company worldwide
and one of the leaders in both blood-glucose monitoring and balanced
nutrition to build better health.
Finally, rising population and prosperity are driving urbanization and growth
in consumer spending in emerging markets, where healthcare investment is
forecast to double to 30 percent of the global healthcare total over the next
decade. As the world’s most international healthcare company, with the largest
emerging-market presence, Abbott is optimally positioned to make the most of
this fundamental change.
Durable and reliable
A critically important legacy that today’s Abbott carries forward is our
tradition of outstanding financial strength and performance. All of our major
businesses are strong, growing and profitable. In fact, we expect to continue
the steady expansion of our gross and operating margins in the years ahead.
This will not only provide us the strength and liquidity to remain strategically
flexible, but will also allow us to deliver excellent cash flow and maintain our
commitment to paying a strong dividend to shareholders.
A Great Tradition, A New Beginning
As you can see, then, Abbott is ready for the promising new future ahead
of it — a future that we very consciously defined. We have all the resources
and capabilities needed to remain a long-term leader in our industry, with
a collection of strengths that presents a unique investment opportunity to
deliver reliable and sustainable growth.
It’s appropriate that Abbott would simultaneously enter its 125th year and
execute a transformative strategic move that brings it to a new beginning —
because it’s by continually adapting that we’ve succeeded for so long. The
company has changed continually, generation after generation, to ensure it’s
pointed in the right direction and aligned with the future. And that’s exactly
what we’re doing today. The change we’re embarking on now may be our
biggest yet — but it’s part of a continuum that has made our company
stronger and better able to help more people in each successive era. We at
Abbott are highly conscious of the legacy we’re privileged to bear forward,
and the responsibility that comes with it to succeed — for all of the people
who depend upon us. We welcome that challenge with full confidence and,
as Dr. Abbott did at an earlier inflection point in our company’s development,
we invite the world to Watch Us Grow.
Miles D. White Chairman of the Board
and Chief Executive Officer
March 3, 2013
Letter to our shareholders
“ We’re beginning
our second 125
years the same
way we succeeded
throughout the
first: by adapting
to meet the future.”
—Miles White
4
Abbott 2012 Annual Report