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Biden to discuss infant formula shortage with companies

WASHINGTON (Reuters) -The White House will provide an update on infant formula supplies on Thursday after President Joe Biden speaks with manufacturers and retailers about ongoing...

WASHINGTON (Reuters) -The White House will provide an update on infant formula supplies on Thursday after President Joe Biden speaks with manufacturers and retailers about ongoing shortages, a White House official said.

Already tight supplies dwindled after Abbott Laboratories (NYSE:ABT) in February recalled Similac and other baby formula made at its Michigan plant following consumer complaints of bacteria contamination. The U.S. Food and Drug Administration later cited five bacterial infections reported in babies given the company's formula, including two deaths.

Abbott, the biggest U.S. supplier of milk formula, said testing found one bacteria strain found in the facility was not linked to any known infant illnesses, although it was updating its cleaning and related protocols.

"We take this very seriously," it said on Wednesday. "We know the recall has worsened an already existing industry-wide infant formula shortage in the U.S., and we've been seeing and hearing the stress and despair of parents who are facing empty shelves."

The plant's closure exacerbated pandemic-related supply chain issues causing formula shortages that the FDA has said it is working to address.

Other major formula producers include Reckitt Benckiser and Nestle SA (SIX:NESN).

Biden will be updated on supply efforts, the White House official said, but did not identify which companies were participating.

Several retailers, including Target Corp (NYSE:TGT), CVS Health Corp (NYSE:CVS) and Walgreens Boots Alliance (NASDAQ:WBA), have limited formula purchases until supplies improve and to prevent hoarding, while New York Attorney General Letitia James has warned against price gouging.

U.S. House lawmakers also plan a hearing on May 25. [L2N2X322B]

House Speaker Nancy Pelosi told reporters lawmakers want to ensure it does not happen again, "but right now the baby's crying, the baby's hungry and we need to address the situation right now."

House Appropriations Committee Chairwoman Rosa DeLauro last month sought a Department of Health and Human Services probe, citing a whistleblower report from October 2021.

House Republicans on Thursday criticized the Biden administration's handling of the situation and said a plan should have been in place to address the shortages sooner.

Abbott said it could restart production in Sturgis, Michigan, within two weeks of FDA approval, adding that it is prioritizing production at its Columbus, Ohio, facility and air-shipping formula from its Ireland plant.

The company announced the recall on Feb. 17.

On Feb. 28, the FDA warned of Cronobacter sakazakii and Salmonella Newport infections in babies fed with formula produced at the Michigan plant. FDA finished inspecting that facility on March 18, and the company responded on April 8, Abbott said.

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24-05-2022 04:15:00 (UTC+7)

EUR/USD

1.0691

+0.0002 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (8)

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EUR/USD

1.0691

+0.0002 (+0.02%)

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Neutral

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GBP/USD

1.2586

-0.0003 (-0.02%)

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USD/JPY

127.89

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AUD/USD

0.7107

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USD/CAD

1.2769

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EUR/JPY

136.73

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1.0328

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Silver Futures

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Copper Futures

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Crude Oil WTI Futures

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Natural Gas Futures

8.819

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US Coffee C Futures

215.58

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Euro Stoxx 50

3,708.39

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S&P 500

3,973.75

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DAX

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20,470.06

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US Small Cap 2000

1,788.91

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IBEX 35

8,625.80

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BASF SE NA O.N.

49.735

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Bayer AG NA

64.47

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Allianz SE VNA O.N.

199.38

+3.80 (+1.94%)

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Adidas AG

175.48

+2.68 (+1.55%)

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Deutsche Lufthansa AG

6.903

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Siemens AG Class N

116.70

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10.018

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 EUR/USD1.0691Neutral
 GBP/USD1.2586Neutral
 USD/JPY127.89↑ Sell
 AUD/USD0.7107Neutral
 USD/CAD1.2769↑ Sell
 EUR/JPY136.73Neutral
 EUR/CHF1.0328↑ Sell
 Gold1,852.10Neutral
 Silver21.775↑ Buy
 Copper4.3407↑ Buy
 Crude Oil WTI110.59↑ Buy
 Brent Oil110.91↑ Buy
 Natural Gas8.819↑ Sell
 US Coffee C215.58↑ Buy
 Euro Stoxx 503,708.39↑ Buy
 S&P 5003,973.75↑ Buy
 DAX14,175.40↑ Buy
 FTSE 1007,513.44↑ Buy
 Hang Seng20,470.06Neutral
 Small Cap 20001,788.91↑ Sell
 IBEX 358,625.80↑ Buy
 BASF49.735↑ Buy
 Bayer64.47↑ Buy
 Allianz199.38↑ Buy
 Adidas175.48↑ Buy
 Lufthansa6.903Neutral
 Siemens AG116.70↑ Buy
 Deutsche Bank AG10.018↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,890/ 6,990
(0/ 0) # 1,765
SJC HCM6,905/ 6,995
(0/ 0) # 1,769
SJC Hanoi6,905/ 6,997
(0/ 0) # 1,771
SJC Danang6,905/ 6,997
(0/ 0) # 1,771
SJC Nhatrang6,905/ 6,997
(0/ 0) # 1,771
SJC Cantho6,905/ 6,997
(0/ 0) # 1,771
Cập nhật 24-05-2022 04:15:05
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,853.70+7.880.43%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V31.25031.870
RON 95-III30.65031.260
E5 RON 92-II29.63030.220
DO 0.05S25.55026.060
DO 0,001S-V26.35026.870
Dầu hỏa 2-K24.40024.880
ↂ Giá dầu thô thế giới
WTI$110.06-0.36-0.32%
Brent$111.25-0.71-0.64%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.005,0023.315,00
EUR23.899,8625.238,69
GBP28.277,1029.483,51
JPY176,47186,83
KRW15,8019,25
Cập nhật lúc 18:52:02 23/05/2022
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