Abbott's Troubled Baby Formula Michigan Plant To Reopen In 1-2 Weeks: Reuters

  • Abbott Laboratories ABT and the FDA are reportedly on track to reopen the company's Sturgis, Michigan, baby formula manufacturing plant within one or two weeks, FDA Commissioner Robert Califf said.
  • Abbott, the biggest U.S. supplier of powder infant formula, including Similac, agreed with the FDA on the steps needed to resume production at the manufacturing plant.
  • Also Read: White House To Prioritize Resources To Increase Production Of Baby Formula.
  • "I think we are on track to get it open within the next week to two weeks, most likely at the outer bound two weeks," Califf told lawmakers at a U.S. House of Representatives Appropriations Subcommittee hearing.
  • The company initiated a recall of its infant formula products. In February, it closed the plant after reports of serious bacterial infections in four infants, which worsened due to the pandemic supply chain issues. 
  • Price Action: ABT shares are down 0.65% at $112.01 during the market session on the last check Thursday.
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