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.

Overview Rating:

Good

100

0100