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Exhibit 99.1
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The Financial Review and other sections of this Form 10-Q 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.
- 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.
- 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.
- 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.
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- 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.
- 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 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.
- 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.
- 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.
- 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 Statute, or other violations in connection
with Medicare and/or Medicaid reimbursement, (iv) claims asserting
violations of the Prescription Drug Marketing Act, (v) derivative
actions, (vi) product liability claims, (vii) disputes over
intellectual property rights (including patents), (viii) environmental
matters, (ix) 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 2002
Form 10-K under the caption "Regulation," and Abbott's ability to
successfully return diagnostic products affected by this consent
decree to market, and (x) issues regarding compliance with any
corporate integrity agreement, including the corporate integrity
agreement between Abbott and the Office of Inspector General for the
U.S. Department of Health and Human Services described under the
caption "Legal Proceedings" in this Form 10-Q.
- Changes in accounting standards promulgated by the Financial
Accounting Standards Board, the Securities and Exchange Commission or
the American Institute of Certified Public Accountants.
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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.