Abbott baby formula plant resumes operations after flooding

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• Abbott Laboratories (NYSE:ABT) has reopened its baby formula plant in Sturgis, Michigan, after flooding in the area forced the company to shut its operations last month, a company spokesperson said Saturday.
• Abbott (ABT) has restarted the manufacturing facility on July 01 and resumed the production of specialty baby formula EleCare.
• The Biden administration invoked the Defense Production Act to increase baby formula supplies after the plant closure on safety concerns worsened a national shortage early this year.
• After an agreement with the FDA, the company reopened the facility in June following a months-long shutdown, only to close it a week later due to flooding in southwestern Michigan.
• In response to the shortage, the FDA said this week that the agency would take steps to help foreign baby formula makers operate in the U.S. for the long term in a bid to diversify the market.

Comments

[Paulies]

Please remove the toxic seed oils from baby formulas!

[VictorN]

The baby formula business is low margin because the government buys over half of the supply at very competitive prices. At the state level, one maker wins all the state supply contract for the child support program, leaving the other makers competing on the remaining free market.

[The Real Cavalier]

I've got a significant position in ABT. My opinion is this is a great company and the baby formula debacle is noise. Take a look at their broad portfolio. Impressive,

[JANFA]

@DavidHHolmes Agree.

[User 48836159]

@DavidHHolmes ABT would benefit from pulling out of the formula market as they don't make enough revenue from it for them to keep taking on massive FDA probes

[Victor Justice]

Unfortunately, the Biden administration and republican neocons are more concerned with getting weapons to Ukrainian neonazis’ than caring about American babies.

Breastfeeding should always be the first option when available. GOD’s plan for families are true and righteous altogether.

[MrBuk]

@Victor Justice I don’t recall any Bible verses about breastfeeding vs formula?

[JANFA]

@Victor Justice Just go back to your church, and preach there. This is an investment website.