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Abbott Laboratories (ABT) Named to Science Magazine's List of 'Top Employers' in the Biotech and Pharmaceutical Industry



10/24/2007 9:20:17 AM

ABBOTT PARK, Ill., Oct. 24 /PRNewswire-FirstCall/ -- For the fifth consecutive year, Abbott has been named among the top 20 employers in the Science magazine 2007 Top Biotech and Pharma Employer's survey.

Science is at the center of Abbott's broad base of businesses. To enhance the experience for researchers, Abbott offers an array of development opportunities in the areas of leadership and business skills, as well as collaborations with academia to help them be successful in the industry environment. Recently Abbott also was named one of the "Best Places to Launch a Career" (www.abbott.com/global/url/pressRelease/en_US/60.5:5/Press_Release_0522.htm) by BusinessWeek magazine.

"Helping our scientists reach their full potential is critical to Abbott's continued success and to finding new and better treatment options for patients, so it's important that we foster an environment where our scientists and their innovative solutions can flourish," said Miles D. White, chairman and chief executive officer, Abbott. "In addition to again being honored for the kind of workplace we have created by Science magazine, the breakthrough work at Abbott has recently been recognized by Prix Galien USA, the Wall Street Journal Technology Awards and the Chicago Innovation Awards."

The Science magazine rankings are determined from a study conducted by an independent research firm commissioned by the journal, and appeared in a special business supplement of the Oct. 12 issue. Survey respondents were asked to rate companies based on 23 characteristics, including financial strength, easy adaptation to change and a research-driven environment.

The 2007 survey sought to identify the companies with the best reputations as employers, based on 3,157 survey responses from readers of Science and other selected respondents. Twenty-nine percent of the respondents came from outside the United States, primarily Western Europe, and 92 percent worked in private industry.

Survey responses were analyzed by Senn-Delaney Culture Diagnostics & Measurement, which used a mathematical process to assign a unique score to rate the companies' employer reputation, taking into account 23 different attributes including: Corporate Image, Leadership and Direction, Financial Prowess, Work Culture/Environment, Work/Life Balance, Academics and Collegial Exchange, and Compensation and Benefits.

Industry-Leading Development Opportunities

A number of unique development programs have been established for Abbott's scientists at all levels of the organization to help nurture and grow their skills in order to help them achieve success within the company. Leadership Development for Scientists, a program specifically designed to provide enhanced skills for high-potential scientists and physicians, helps develop leadership traits and business skills that are not usually included in a scientist's normal curriculum. Abbott also offers a Physician Development Program, which is designed to provide M.D.s who have never worked in industry with an overview of the drug development process. In addition, Abbott collaborates with top colleges and universities to develop curricula that will help scientists obtain a business background to work in industry. Through these proactive collaborations, Abbott helps ensure that the candidates it considers will have the appropriate backgrounds to achieve success in their positions.

Rewarding and Recognizing Innovative Ideas and Achievements

In addition to external honors, Abbott scientists are eligible for unique internal recognition. Induction into the prestigious Volwiler Society represents the highest honor an Abbott scientist can receive. Employees also are eligible for President's Awards, patent/inventor awards and several others.

About Abbott

In addition to the recognition in Science magazine, Abbott has been named among the country's best employers for scientists by The Scientist magazine. The company was recently named one of the "Best Places to Launch a Career" by BusinessWeek magazine and Working Mother magazine's "Top 100 Best Companies for Working Mothers" list. Abbott also has been included on DiversityInc magazine's list of the "Top 50 Companies for Diversity" for many years.

Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs 65,000 people and markets its products in more than 130 countries.

Abbott's news releases and other information are available on the company's Web site at www.abbott.com.

CONTACT: Laura Weber of Abbott, +1-847-936-3708

Web site: http://www.abbott.com/


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