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Abbott's troubled baby formula Michigan plant to reopen In 1-2 weeks

Benzinga Real-time News ·  May 20, 2022 08:46  · Markets

  • $Abbott Laboratories(ABT.US)$ 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.

  • "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 were up 1.17% at $113.75 during the premarket session on the last check Friday.

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