WMT - Perrigo CEO Kessler says to expect baby formula shortage through rest of year - Reuters

Perrigo (NYSE:PRGO) CEO Murray Kessler said that the country's current shortage of infant formula will persist the "balance of the year," he told Reuters. He added that its manufacturing facilities are running at 115% of capacity. The company is also working with retailers including Walmart (WMT) and Target (TGT) to get some product on the shelf each week. Separately, FDA Commissioner Robert Califf said in a series of Twitter posts that the agency will outline plans next week to allow foreign manufacturers to import formula to the U.S., as well as allow "additional flexibilities" for domestic producers. Earlier Friday, the House Oversight Committee sent letters to Perrigo (PRGO), Abbott (ABT), Mead Johnson Nutrition of Reckitt Benckiser (OTCPK:RBGPF) (OTCPK:RBGLY), and Nestle (OTCPK:NSRGF) (OTCPK:NSRGY) as part of an investigation in the shortage.

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Perrigo CEO Kessler says to expect baby formula shortage through rest of year - Reuters