What the Abbott Media Review could mean to you
ABBOTT PARK, IL: Abbott Labs is preparing for a global media agency review, according to people familiar with the matter.
The Chicago-based health and pharmaceutical giant, which also operates in the medical devices and nutritionals categories, works with a handful of shops around the world. This upcoming review is likely an effort to consolidate global relationships.
WPP’s Mindshare is the incumbent on the U.S. business and also supports the account in a number of additional markets. The agency has been working with the company for at least five years.
The review is slated to include regions such as Asia, the Middle East and Europe and Latin America, but not China, according to people familiar with the company’s upcoming plans.
Drexler Fajen is the consultant supporting the review.
Mindshare declined to comment. Abbott couldn’t immediately be reached. Drexler Fajen referred calls to the client.
On Jan. 1, 2013, Abbott spun off its research-based global pharmaceuticals business as a standalone company called AbbVie. Soon after the split, AbbVie selected Publicis Groupe’s Spark to support its more than $300 million media business at the time.
Abbott, which owns nutritional brands like Ensure, PediaSure and Zone Perfect, spent $142 million on measured media in the U.S. in 2014, according to Kantar Media. That’s a 28.5% decrease in the amount it spent in 2013.