FTC probing baby-formula makers for collusion: report [FOX Business Network]
Abbott Laboratories (ABT)
Last abbott laboratories earnings: 4/16 07:30 am
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Source: FOX Business Network
The Federal Trade Commission is looking into whether baby-formula makers colluded on bids for lucrative state contracts. In question is whether Abbott Laboratories and other formula manufacturers have "engaged in collusion or coordination with any other market participant regarding the bidding" for state contracts, according to documents on the agency's website and reported by the Wall Street Journal. FTC Commissioner Alvaro Bedoya wrote that the FTC is also investigating whether company coordination affected sales more broadly, outside the Women, Infants and Children formula-supply program. Abbott, which sells Similac formula, said it is cooperating with the FTC's investigation. ABBOTT LABS UNDER CRIMINAL INVESTIGATION OVER BABY FORMULA SHORTAGE: REPORT Nestlé, which supplies Gerber formula through WIC, has also received a request for information and has responded to the FTC. Reckitt Benckiser, the third company frequently awarded WIC contracts, said it can't comment on
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ABT
Earnings
- 1/24/24 - In-Line
ABT
Sec Filings
- 3/15/24 - Form ARS
- 3/15/24 - Form DEF
- 3/15/24 - Form DEFA14A
- ABT's page on the SEC website