Mead Johnson Dips Lower On Competitive Concerns In China

Shares of

were trading lower by nearly 1 percent on Thursday amid concerns the pediatric nutrition maker may face stiffer competition in China. Traders and investors were passing around a

by Global Times of China which said that Chinese dairy giant Yashlili launched a new infant formula product in the local market. Yashlili said the infant formula is designed in New Zealand. The launch in China "demonstrated Yashlili's long-term strategy" following a $153.18 million investment in the manufacturing facilities in New Zealand - the first overseas factory for the Chinese dairy industry.