Abbott labs was founded by Dr. Wallace C. Abbott, a practicing physician, in Chicago. He began producing accurate, scientifically formulated medications with the goal of providing more effective therapies to patients and the physicians providing their care. The company is among the founders of the scientific practice of pharmacy, expanding its business to meet rising global health needs by championing new areas of medical research. They have been successful in establishing a now long-standing tradition of helping people live healthier lives around the world.