As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by REUTERS.COM:
NEW YORK, May 13 (Reuters) – Perrigo Company PLC (PRGO.N), which makes store-brand baby formulas for retailers, including Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O), expects shortages and heightened demand to last for the “balance of the year,” Chief Executive Murray Kessler told Reuters in an interview.
The Biden administration this week has come under increasing pressure to address a baby formula shortage, which has roots in a February recall of some formulas by one of the nation’s main manufacturers, Abbott Laboratories (ABT.N).
The article goes on to state the following:
“We have stepped up and are killing ourselves to do everything we can,” Kessler said.
Kessler stated Perrigo is focused on the store-brand versions of Similac Pro Sensitive and Pro Advance and Enfamil Gentle Ease and Infant.
Perrigo, with facilities located in Vermont and Ohio, are operating at 115% capacity. They also have a smaller business making national brands, such as Bobbie.
President Joe Biden said on Friday he expects more formula on shelves in weeks, meanwhile, retailers such as CVS Health Corp and Target are rationing their supply of baby formula.
— Reuters (@Reuters)
May 13, 2022
To get more information about this article, please visit REUTERS.COM.
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