Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
Lee Seung-heon Signals Caution on Rate Hikes, Supports Higher Property Taxes to Cool Korea’s Housing Market 
UK Starting Salaries See Strongest Growth in 18 Months as Hiring Sentiment Improves 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Abbott Nutrition said last weekend that it had reopened its Sturgis, Michigan plant to resume the production of baby formula. The company hopes that the nationwide shortage of milk will be addressed once it begins the normal production once again.
Abbott Nutrition was able to open its production facility in Michigan after the U.S. Food and Drug Administration (USFDA) had given it the go-ahead to do so. The permit was granted by the agency after the company met the initial requirements as part of a May 16 consent decree.
According to CNBC, Abbott Nutrition will now restart the production of its EleCare baby formula that has been formulated for children who have difficulties digesting other products. The company will also manufacture its other specialty milk and metabolic formulas for infants.
As the company is now able to begin production again, it is hoping to release the first batch of EleCare milk products by June 20. Currently, Abbott is still working to comply with the guidelines set for the resumption of production for its Similac milk line and other infant formulas.
“We understand the urgent need for formula and our top priority is getting high-quality, safe formula into the hands of families across America,” Abbott’s spokesman said in a statement. “We will ramp production as quickly as we can while meeting all requirements.“
It was noted that the issue with the supply of baby formula began in the early stage of the COVID-19 pandemic. However, the situation got worse when Abbott Nutrition’s production facility in Michigan was ordered to close due to contamination. The plant was shut down in February following reports of illnesses in babies after consuming the company-made milk formulas, and two infants have died.
“The FDA is continuing to work diligently to ensure the safe resumption of production of infant formula at Abbott Nutrition’s Sturgis, Michigan, facility,” the USFDA commented with regards to Abbot’s plant reopening. “The agency expects that the measures and steps it is taking, and the potential for Abbott Nutrition’s Sturgis, Michigan, facility, to safely resume production in the near-term, will mean more and more infant formula is either on the way to or already on store shelves moving forward.”
