In 2001, the company acquired Knoll, the pharmaceutical division of BASF. Īccording to Harvard professor Lester Grinspoon and Peter Hedblom, "In 1966 Abbott Laboratories sold the equivalent of two million doses of methamphetamine in powder form to a Long Island criminal dealer".
In 1965, Abbott's expansion in Europe continued with offices in Italy and France. In the years following the acquisition, Pedialyte and Ensure were introduced as nutritional products by Ross Laboratories while under Abbott's leadership. The acquisition of Ross brought Similac under the Abbott umbrella. In 1964, it merged with Ross Laboratories, making Ross a wholly owned subsidiary of Abbott, and Richard Ross gained a seat on Abbott's board of directors until his retirement in 1983. In 1962 Abbott entered into a joint venture with Dainippon Pharmaceutical Co., Ltd., of Osaka, Japan, to manufacture radio-pharmaceuticals. Currently, two manufacturing facilities located at Landhi and Korangi in Karachi continue to produce pharmaceutical products. On October 31, 1995, the name was changed to Knoll Pharmaceuticals Ltd and on July 1, 2002, to their present name Abbott India Ltd.I Abbott started operations in Pakistan as a marketing affiliate in 1948 the company has steadily expanded to comprise a work force of over 1500 employees. The company name was changed to The Boots Company (India) Ltd on November 1, 1971, and to Boots Pharmaceuticals Ltd on January 1, 1991. Abbott India Ltd was originally incorporated on August 22, 1944, as Boots Pure Drug Company (India) Ltd. International expansion Ībbott's first international affiliate was in London in 1907 the company later added an affiliate in Montreal, Canada. In 1922, the company moved from Ravenswood to North Chicago, Illinois. His innovation was formulating the active part of alkaloid medicinal plants- morphine, quinine, strychnine and codeine-as tiny "dosimetric granules", producing more consistent and effective dosages for patients than the liquid preparations previously used, which deteriorated over time. At the time, he was a practising physician and owned a drug store. In 1888 at the age of 30, Wallace Abbott (1857–1921), an 1885 graduate of the University of Michigan, founded the Abbott Alkaloidal Company in Ravenswood, Chicago.
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