RBGPF - U.S. to offer transport logistics support to baby formula makers to overcome shortage

The Biden administration is working to provide baby formula manufacturers with government transportation and logistics support to address the ongoing nationwide shortage, Bloomberg reported on Monday. The officials are also in talks with raw material suppliers of formula makers to prioritize their production and delivery, a White House official said on the condition of anonymity. Last Thursday, President Biden met with retailers and formula manufacturers to get updates on the actions taken to address the shortage. After the meeting, the White House has held discussions with Abbott (NYSE:ABT), Reckitt Benckiser (OTCPK:RBGPF) (OTCPK:RBGLY), Perrigo (PRGO), and Gerber Products of Nestle (OTCPK:NSRGY) (OTCPK:NSRGY) to understand the transportation, logistical, and supplier constraints, impacting the production. The new measures come amid reports that Pharmacy chain operators, CVS Health Corporation (CVS), Walgreens Boots Alliance (WBA), and retailer Target Corporation (TGT) have capped the baby formula purchases because of worsening shortage.

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U.S. to offer transport, logistics support to baby formula makers to overcome shortage