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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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21-05-2022 10:40:33 (UTC+7)

EUR/USD

1.0562

-0.0024 (-0.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

EUR/USD

1.0562

-0.0024 (-0.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

GBP/USD

1.2489

+0.0029 (+0.23%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

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Buy (2)

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USD/JPY

127.86

+0.07 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (8)

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Buy (3)

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AUD/USD

0.7039

-0.0008 (-0.11%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

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Buy (1)

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USD/CAD

1.2839

+0.0014 (+0.11%)

Summary

↑ Buy

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Sell (1)

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Buy (5)

Sell (1)

EUR/JPY

135.05

-0.24 (-0.18%)

Summary

Neutral

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Buy (6)

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EUR/CHF

1.0296

-0.0005 (-0.05%)

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Gold Futures

1,845.10

+3.90 (+0.21%)

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Silver Futures

21.765

-0.143 (-0.65%)

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Copper Futures

4.3042

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Crude Oil WTI Futures

110.35

+0.46 (+0.42%)

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Brent Oil Futures

112.91

+0.87 (+0.78%)

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Natural Gas Futures

8.058

-0.250 (-3.01%)

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US Coffee C Futures

216.48

-2.22 (-1.02%)

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Buy (6)

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Euro Stoxx 50

3,657.03

+16.48 (+0.45%)

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↑ Buy

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S&P 500

3,901.36

+0.57 (+0.01%)

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DAX

13,981.91

+99.61 (+0.72%)

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FTSE 100

7,389.98

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Hang Seng

20,717.24

+596.56 (+2.96%)

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↑ Sell

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Sell (8)

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US Small Cap 2000

1,768.35

-7.87 (-0.44%)

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IBEX 35

8,484.50

+78.50 (+0.93%)

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BASF SE NA O.N.

48.850

-0.010 (-0.02%)

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Buy

Moving Avg:

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Bayer AG NA

63.74

+0.34 (+0.54%)

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Buy

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Allianz SE VNA O.N.

195.58

+0.78 (+0.40%)

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Buy

Moving Avg:

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Adidas AG

172.80

+0.92 (+0.54%)

Summary

Buy

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Buy (6)

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Buy (7)

Sell (1)

Deutsche Lufthansa AG

6.852

+0.049 (+0.72%)

Summary

↑ Sell

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Siemens AG Class N

115.08

+2.62 (+2.33%)

Summary

Neutral

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Deutsche Bank AG

9.362

-0.130 (-1.37%)

Summary

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Buy (6)

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Buy (8)

Sell (1)

    EUR/USD 1.0562 ↑ Buy  
    GBP/USD 1.2489 Neutral  
    USD/JPY 127.86 Neutral  
    AUD/USD 0.7039 Sell  
    USD/CAD 1.2839 ↑ Buy  
    EUR/JPY 135.05 Neutral  
    EUR/CHF 1.0296 ↑ Buy  
    Gold 1,845.10 ↑ Buy  
    Silver 21.765 ↑ Sell  
    Copper 4.3042 ↑ Buy  
    Crude Oil WTI 110.35 ↑ Sell  
    Brent Oil 112.91 ↑ Sell  
    Natural Gas 8.058 ↑ Sell  
    US Coffee C 216.48 ↑ Buy  
    Euro Stoxx 50 3,657.03 ↑ Buy  
    S&P 500 3,901.36 ↑ Buy  
    DAX 13,981.91 Buy  
    FTSE 100 7,389.98 Neutral  
    Hang Seng 20,717.24 ↑ Sell  
    Small Cap 2000 1,768.35 ↑ Buy  
    IBEX 35 8,484.50 Neutral  
    BASF 48.850 Buy  
    Bayer 63.74 Buy  
    Allianz 195.58 Buy  
    Adidas 172.80 Buy  
    Lufthansa 6.852 ↑ Sell  
    Siemens AG 115.08 Neutral  
    Deutsche Bank AG 9.362 Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,875/ 6,975
(0/ 0) # 1,795
SJC HCM6,895/ 6,985
(5/ 5) # 1,800
SJC Hanoi6,895/ 6,987
(5/ 5) # 1,802
SJC Danang6,895/ 6,987
(5/ 5) # 1,802
SJC Nhatrang6,895/ 6,987
(5/ 5) # 1,802
SJC Cantho6,895/ 6,987
(5/ 5) # 1,802
Cập nhật 21-05-2022 10:40:35
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,846.53 +4.27 0.23%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
DO 0.05S26.65027.180
DO 0,001S-V27.45027.990
Dầu hỏa 2-K25.16025.660
ↂ Giá dầu thô thế giới
WTI $109.83 0 0%
Brent $110.60 0 0%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.000,0023.310,00
EUR23.879,5425.217,23
GBP28.128,1029.328,16
JPY176,49186,84
KRW15,8019,26
Cập nhật lúc 10:39:59 21/05/2022
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