Abbott Restarts Michigan Baby Formula Plant; Street Says Buy
06 Juni 2022 - 11:55AM
TipRanks
Abbott Laboratories’ (ABT) Abbott Nutrition has commenced
production at its Michigan baby formula plant, which had remained
closed since February due to contamination. The move is a step
forward toward mitigating the impact of the national shortage of
baby formula. According to Abbott, it will take around three weeks
for products to occupy shelves. Initially, the company is focusing
on the production of EleCare, its specialty formula for infants
suffering from severe food allergies and digestive problems. Abbott
closed its Michigan plant after the U.S. FDA flagged bacterial
infections in infants who consumed the formula. Abbott stated that
its products were not linked to these infections.
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Abbott Laboratories (NYSE:ABT)
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