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Exhibit 99.1
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The Financial Review and other sections of this Form 10-K contain
forward-looking statements that are based on management's current expectations,
estimates and projections. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," variations of these words and similar
expressions are intended to identify these forward-looking statements. Certain
factors, including but not limited to those listed below, may cause actual
results to differ materially from current expectations, estimates, projections
and from past results.
o Competitive factors, including: (i) pricing pressures, both in the
United States and abroad, primarily from managed care groups and
government agencies, (ii) the development of new products by
competitors having lower prices or superior performance or that are
otherwise competitive with Abbott's current products, (iii) generic
competition when Abbott's products lose their patent or regulatory
protection, (iv) technological advances, patents and registrations
obtained by competitors, and (v) business combinations among
Abbott's competitors or major customers.
o Difficulties and delays inherent in the development, manufacturing,
marketing, or sale of products, including: (i) uncertainties in the
United States Food and Drug Administration and foreign regulatory
approval processes, (ii) delays in the receipt of or the inability
to obtain required approvals, (iii) efficacy or safety concerns,
(iv) the suspension, revocation, or adverse amendment of the
authority necessary for manufacture, marketing, or sale, (v) the
imposition of additional or different regulatory requirements, such
as those affecting labeling, (vi) seizure or recall of products,
(vii) the failure to obtain, the imposition of limitations on the
use of, or the loss of patent and other intellectual property
rights, (viii) loss of regulatory exclusivity, (ix) manufacturing or
distribution problems, (x) problems with licensors, suppliers and
distributors, and (xi) labor disputes, strikes, slow-downs or other
forms of labor or union activity.
o Governmental action including: (i) new laws, regulations and
judicial decisions related to health care availability, method of
delivery, or the method or amount of payment or reimbursement for
health care products and services, (ii) changes in the United States
Food and Drug Administration and foreign regulatory approval
processes that may delay or prevent the approval of new products and
result in lost market opportunity, (iii) new laws, regulations and
judicial decisions affecting pricing or marketing, and (iv) changes
in the tax laws relating to Abbott's operations, including laws
related to the remittance of foreign earnings.
o Changes in economic conditions over which Abbott has no control,
including changes in the rate of inflation, business conditions,
interest rates, foreign currency exchange rates, market value of
Abbott's equity investments, and the performance of investments
held by Abbott's employee benefit trusts.
o Changes in business and political conditions, including (i) war,
political instability, terrorist attacks in the U.S. and other
parts of the world, the threat of future terrorist
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activity in the U.S. and other parts of the world and related
U.S. military action, and (ii) the cost and availability of
insurance due to any of the foregoing events.
o Changes in Abbott's business units and investments and changes in
the relative and absolute contribution of each to earnings resulting
from evolving business strategies and opportunities existing now or
in the future, such as acquisitions, restructurings or dispositions.
o Changes in costs or expenses, including variations resulting from
changes in product mix and changes in tax rates both in the United
States and abroad.
o Legal difficulties, any of which could preclude commercialization of
products or adversely affect profitability, including: (i) claims
asserting antitrust violations, (ii) claims asserting securities law
violations, (iii) claims asserting violations of the Federal False
Claims Act, Anti-Kickback Act, the Prescription Drug Marketing Act
or other violations in connection with Medicare and/or Medicaid
reimbursement, (iv) derivative actions, (v) product liability
claims, (vi) disputes over intellectual property rights (including
patents), (vii) environmental matters, and (viii) issues
regarding compliance with any governmental consent decree,
including the consent decree between Abbott and the United States
Food and Drug Administration described in Abbott's Form 10-K
under the caption "Regulation," and Abbott's ability to
successfully return diagnostic products affected by this consent
decree to market.
o Changes in accounting standards promulgated by the Financial
Accounting Standards Board, the Securities and Exchange Commission
or the American Institute of Certified Public Accountants.
No assurance can be made that any expectation, estimate or projection
contained in a forward-looking statement will be achieved or will not be
affected by the factors cited above or other future events. Readers are
cautioned not to place undue reliance on such statements, which speak only as of
the date made. Abbott undertakes no obligation to release publicly any revisions
to forward-looking statements as the result of subsequent events or
developments.