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Stock impact report

FDA sketches out plan to bolster fragile US infant formula supply management [CBS News]

Abbott Laboratories (ABT) 
Last abbott laboratories earnings: 4/16 07:30 am Check Earnings Report
US:NYSE Investor Relations: abbott.com/investors.html
Company Research Source: CBS News
The announcement came just ahead of a hearing of the House Oversight and Accountability Committee about what went wrong during last year's infant formula shortage. Committee members and experts who testified were critical of formula makers and the FDA's food safety program, which the agency has pledged to revamp in order to protect the nation's food supply and promote better nutrition. Many experts are concerned that the formula shortage of 2022 could easily happen again, even with those changes. "While we stand here today, more than a year since the recall, it is my view that the state of the infant formula industry today is not much different than it was then," testified Frank Yiannas, who stepped down from his role as the agency's deputy commissioner of food policy and response in late February. "The nation remains one outbreak, one tornado, flood or cyberattack away from finding itself in a similar place to that of February 17, 2022." A formula shortage that started in 20 Show less Read more
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