Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Enfamil maker Reckitt flies baby formula to U.S. from Singapore

Published 07/13/2022, 01:06 PM
Updated 07/13/2022, 03:11 PM
© Reuters. FILE PHOTO: Similac and Enfamil products are seen on largely empty shelves in the baby formula section of a Target store, amid continuing nationwide shortages in infant and toddler formula, in San Diego, California, U.S., May 25, 2022.  REUTERS/Bing Guan

By Richa Naidu

LONDON (Reuters) -Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, aiming to end a months-long shortage in the United States by late summer, a senior executive said.

Similac maker Abbott Laboratories (NYSE:ABT) in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history.

The amount Reckitt imported on Wednesday is equivalent to 2 million 8-oz servings and is expected to hit supermarket and drug store shelves in early August.

"We can play a significant role in putting an end to this by late summer," Robert Cleveland, senior vice president, North America and Europe Nutrition at Reckitt, told Reuters in an interview. "That's the timeframe we think we're on right now."

"Abbott will eventually ramp back up again and of course there have been other options the government has pursued as well."

In July, Reckitt will bring into the country about 192 metric tons of baby formula, equal to more than 5.9 million 8-oz servings, the company said.

Reckitt also has the Food & Drug Administration's (FDA) approval to import the equivalent of 66 million servings between now and November, it added.

Wednesday's shipment of infant formula base powder will arrive from Reckitt's Tuas, Singapore, facility and will be transported to the company’s Wanamingo facility in Minnesota for finishing and packaging that meet FDA standards. The product goes through "a number of quality tests" that can take anywhere from 5-10 days before it can be sent to stores.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.