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CAN ABBOTT BE THE NEXT J&J? Miles White bets he can remake his company in the image of one of the health care industry's powerhouses.

Publication: Crain's Chicago Business
Publication Date: 18-APR-05 		Format: Online - approximately 1063 words
Delivery: Immediate Online Access
Full Article Title: CAN ABBOTT BE THE NEXT J&J? Miles White bets he can remake his company in the image of one of the health care industry's powerhouses.(News)(Abbott Laboratories Inc. wants to be like Johnson & Johnson)

Article Excerpt
Byline: BRETT CHASE

Abbott Laboratories has an idol: Its name is Johnson & Johnson.

As it tests a drug-coated heart stent-a tiny cylinder that keeps clogged arteries open-Abbott is sending its strongest signal yet that it plans to emulate Johnson & Johnson (J&J), the diversified New Jersey medical products giant known for cutting-edge technology and highly profitable brands.

Abbott CEO Miles D. White is placing big, simultaneous bets on new technologies in a range of medical markets, from drugs to spinal implants to the stent. Potential payoffs are huge, but so is the risk and the competition. The new ventures take Abbott beyond its traditional strongholds and pit the company against far bigger rivals, including role model J&J.

stent trial a key test

"J&J is the closest we have to our model today,'' says Richard A. Gonzalez, president and chief operating officer of Abbott's medical products group, acknowledging that Abbott has "studied J&J very carefully'' but denying it's...

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