RBGPF - U.S. lawmakers launch probe on baby formula shortage - ABC News

The House Oversight Committee of the U.S. Congress is launching an investigation into the ongoing shortage of baby formula products across the country, ABC News reported on Friday. In letters addressed to four of the largest manufacturers, Abbott (NYSE:ABT), Mead Johnson Nutrition of Reckitt Benckiser (OTCPK:RBGPF) (OTCPK:RBGLY), Nestle (OTCPK:NSRGY) (OTCPK:NSRGY), and Perrigo (PRGO), the lawmakers requested information and documents in this regard. The panel expects to investigate cases of price gouging and the steps the companies are taking to address the shortage. In addition, the committee requests Abbott (ABT), the maker of Similac baby formula, to provide information on its recent product recall. "We have asked for a briefing by the end of the month, and we've asked three basic questions: Do they have the supply to meet the demand? Is there a supply chain problem that can be corrected? And what can we do to make sure this doesn't happen again?"

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U.S. lawmakers launch probe on baby formula shortage - ABC News