- Abbott Laboratories (NYSE:ABT) and the FDA are reportedly on track to reopen the company's Sturgis, Michigan, baby formula manufacturing plant within one or two weeks, FDA Commissioner Robert Califf said.
- Abbott, the biggest U.S. supplier of powder infant formula, including Similac, agreed with the FDA on the steps needed to resume production at the manufacturing plant.
- Also Read: White House To Prioritize Resources To Increase Production Of Baby Formula.
- "I think we are on track to get it open within the next week to two weeks, most likely at the outer bound two weeks," Califf told lawmakers at a U.S. House of Representatives Appropriations Subcommittee hearing.
- The company initiated a recall of its infant formula products. In February, it closed the plant after reports of serious bacterial infections in four infants, which worsened due to the pandemic supply chain issues.
- Price Action: ABT shares are down 0.65% at $112.01 during the market session on the last check Thursday.
