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Stock impact report

Abbott India warns of potential laxative syrup shortages amid production halt [FOX Business Network]

Abbott Laboratories (ABT) 
Last abbott laboratories earnings: 4/16 07:30 am Check Earnings Report
US:NYSE Investor Relations: abbott.com/investors.html
Abbott Laboratories' Indian unit has warned of potential supply shortages of two popular laxative syrups after production was prohibited in India's Goa state, where drug inspectors have found lapses at a company factory, a letter shows. Goa, where Abbott has one of its two India plants, asked the company to halt production of Cremaffin and Duphalac syrups last month. The request followed the recall of another Abbott drug which triggered factory inspections by health officials who found contamination risks and sanitisation issues. The two laxative brands together have estimated annual sales of $70 million in India, healthcare data firm Pharmarack says. In a letter to Goa's Directorate of Food and Drugs Administration dated Sept. 18, which is not public and has not previously been reported on, Abbott pushed state regulators to allow it to restart manufacturing the two medicines. "The two products have a high consumption rate and are highly prescribed," Abbott said in the letter Show less Read more
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