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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Abbott Laboratories | NYSE:ABT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 105.97 | 54 | 12:00:00 |
From May 2022 to May 2024
By Denny Jacob
Abbott Laboratories said Monday it has agreed to enter into a consent decree with the Food and Drug Administration to resume production and maintain its Sturgis, Mich.-based infant formula plant.
Once the FDA confirms the initial requirements for start-up have been met, Abbott could restart the site within two weeks, the health care products company said. From the time it restarts the site, the company said it will take six to eight weeks before products are available on shelves.
The company said it would begin production of EleCare, Alimentum and metabolic formulas first and then begin production of Similac and other formulas.
"Our No. 2 priority is getting infants and families the high-quality formulas they need, and this is a major step toward re-opening our Sturgis facility so we can ease the nationwide formula shortage," Chief Executive Robert Ford said in prepared remarks.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 16, 2022 16:55 ET (20:55 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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