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雅培Abbott Laboratories(ABT)2025年10-K年度报告「NYSE」(英文版)(122页).pdf

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1、Table of ContentsUNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON,D.C.20549_FORM 10-K(MARK ONE)ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934_For the fiscal year end

2、ed December 31,2025Commission file number 1-2189Abbott LaboratoriesAn Illinois Corporation36-0698440100 Abbott Park RoadAbbott Park,Illinois 60064-6400(I.R.S.employer identification number)(224)667-6100(telephone number)Securities Registered Pursuant to Section 12(b)of the Act:Title of Each ClassTra

3、ding Symbol(s)Name of Each Exchange on Which RegisteredCommon Shares,Without Par ValueABTNew York Stock ExchangeNYSE TexasIndicate by check mark if the registrant is a well-known seasoned issuer,as defined in Rule 405 of the Securities Act.Yes No Indicate by check mark if the registrant is not requi

4、red to file reports pursuant to Section 13 or 15(d)of the Act.Yes No Indicate by check mark whether the registrant(1)has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12months(or for such shorter period that the registrant wa

5、s required to file such reports),and(2)has been subject to such filing requirements for the past 90 days.Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(232.405 ofthis chapte

6、r)during the preceding 12 months(or for such shorter period that the registrant was required to submit such files).Yes No Indicate by check mark whether the registrant is a large accelerated filer,an accelerated filer,a non-accelerated filer,a smaller reporting company,or an emerging growth company.

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1. **公司概况**:Abbott Laboratories(雅培)是一家多元化医疗保健产品公司,业务涵盖药品、诊断、营养品和医疗器械四大板块,2025年员工约11.5万人(69%在美国以外)。 2. **重大收购**:2025年11月宣布收购Exact Sciences,进军癌症诊断市场,预计融资约200亿美元,导致总负债增至约329亿美元(2025年底为129亿美元)。 3. **核心业务**: - **药品**:品牌仿制药(如Creon™、Synthroid™),主要面向新兴市场。 - **诊断**:实验室系统(Alinity)、分子诊断(ID NOW)、快速检测(BinaxNOW)。 - **营养品**:婴幼儿配方奶粉(Similac®)、成人营养品(Ensure®)。 - **医疗器械**:心脏设备(MitraClip®)、血糖监测(FreeStyle Libre)。 4. **风险因素**:供应链中断、网络安全威胁、研发失败、监管合规成本高,以及收购Exact Sciences可能带来的财务压力。 5. **监管环境**:受FDA及全球严格监管,数据隐私(如GDPR)和医疗欺诈法规增加合规成本。
**收购风险?** **数据安全?** **研发挑战?**
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