Abbott, other baby formula makers face FTC investigation for potential collusion [Reuters]
Abbott Laboratories (ABT)
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Source: Reuters
The FTC is looking into whether the companies "engaged in collusion or coordination with any other market participant regarding the bidding," according to the document. The Wall Street Journal was first to report on the matter. According to the document, in 2022 the FTC began looking into potential collusion or coordination in bids to provide formula for the U.S. Department of Agriculture's Women, Infants and Children (WIC) program that provides free formula to low-income families. The document said studies showed that in addition to the money made from the contracts, the contract win tended to lead to better commercial sales. "Although the boost in non-WIC sales motivates manufacturers to win WIC contracts, it may also create incentives to engage in collusive or coordinated market allocation, whereby incumbent WIC contract holders agree not to bid against each other," the document, written by Commissioner Alvaro Bedoya, said. The antitrust agency also requested information
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