Stock Groups

Biden to get supply update from infant formula producers -Breaking

[ad_1]

© Reuters. FILE PHOTO. U.S. President Joe Biden addresses the 154th National Memorial Day Wreath Laying and Observance Ceremony to Honor America’s Fallen at Arlington National Cemetery, Arlington, U.S.A, May 30, 2022. REUTERS/Joshua Roberts

By Jarrett Renshaw

(Reuters) – U.S. president Joe Biden is hosting a virtual roundtable meeting with manufacturers of infant formula on Wednesday to update them on industry progress to meet a national shortage.

Due to the February recall, the U.S. is facing a shortage of baby formula Abbott Laboratories (NYSE:) Pandemic-related Supply-Chain Issues, causing Biden to invoke the Defense Production Act to assure that baby formula manufacturers are stocked with the right supplies.

Following the relaxation of import restrictions to deal with the shortage, companies from around the world that produce baby formula shipped products to the United States.

According to the White House, the manufacturers represented at the roundtable were: Bubs Australia (NYSE:), Perrigo Company, Reckitt Benckiser Group and Nestle SA.

Baby formula is a common choice for many American parents. The 2020 Breastfeeding report card from the Centers for Disease Control and Prevention shows that less than half of the US’s newborns were exclusively breastfed for their first three years.

[ad_2]