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Abbott prioritizes enriching shareholders over formula safety-report

https://sputniknews.com/20220520/abbott-prioritized-enriching-stockholders-over-formula-safety — report-1095671428.html

Abbott prioritizes enriching shareholders over formula safety-report

Abbott prioritizes enriching shareholders over formula safety-report

In February, the FDA and Abbott Nutrition recalled a batch of infant formula associated with the potential for illness and death in some babies.While Abbott denies them … 20.05.2022, Sputnik International

2022-05-20T19: 02 + 0000

2022-05-20T19: 02 + 0000

2022-05-20T19: 02 + 0000

Abbott Laboratories

Infant formula

Ron Wyden

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According to the Guardian, Abbott, a milk powder company, detected bacteria in powdered milk eight times between 2019 and 2021, ignoring warnings about milk powder deterioration, but profits surged 94%. During the same period, Abbott announced that it also increased shareholder dividends by more than 25%. $ 5 billion stock repurchase program. Abbott denies that repurchases compromise product safety, but contaminated milk powder led to a February recall, killing two babies and at least one more, according to the FDA and CDC. You may have died. Four babies get sick. The baby was infected with Chronobacter sakazakii, a bacterium that breeds in dry places such as infant formula. Abbott, who is responsible for 43% of all infant formulas produced in the United States, said “there is no evidence to link our prescription to these infant illnesses”. Prior to the federal whistleblower complaint sent to the FDA in October, factory officials at the Sturgis factory repeatedly claimed that they had deliberately tampered with records and had problems sealing powdered milk cans. bottom. The complaint also destroyed only some of the batches that the company felt most contaminated after it was found that the formula contained unspecified microorganisms, neglected to test the rest of the product, and replaced it. Claims to have sent it to the store shelves. Some product flow pipes were “pitching”, resulting in small pinholes that could allow bacteria to enter the system and prevent proper cleaning of equipment. Pitching is when the pipe begins to corrode from the inside, eventually creating small holes and leaking. The damage may appear minor, but it usually indicates greater damage. Pinholes are comparable to the tip of an iceberg, with something bigger just below the surface. In response to whistleblower reports, Abbott claims that he was “dismissed for a serious breach of Abbott’s food safety policy.” Meanwhile, Senator Ron Weiden, the chairman of the Senate Finance Committee, has requested information about Abbott’s share repurchase plans. To address the shortage caused by Abbott’s recall, President Biden has enacted the Defense Production Act to increase production, and the FDA has shown that it may temporarily allow powdered milk from abroad. Import. Currently, 98% of the powdered milk on American shelves is domestic.

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Abbott Laboratories, Infant Formula, Ron Weiden

In February, the FDA and Abbott Nutrition recalled a batch of infant formula associated with the potential for illness and death in some babies. Abbott denied that their prescription was the cause, but closed a factory in Sturgis, Michigan, resulting in a national shortage.

Abbott, a milk powder company, ignored warnings about equipment degradation and detected bacteria eight times in the formula between 2019 and 2021, but profits surged 94%. According to the Guardian..

At the same time, Abbott announced a $ 5 billion share repurchase program with a shareholder dividend increase of more than 25%.

Abbott denies that repurchasing stocks compromises product safety, but contaminated milk powder led to a February recall, killing two babies and at least four more, according to the FDA and CDC. A human infant may have become ill.

baby Infected with Cronobacter sakazaki, a bacterium that breeds in dry places such as powdered milk.

Abbott, who is responsible for 43% of all infant formulas produced in the United States, denied liability for infant mortality, stating that “there is no evidence to associate our formulas with these infant formulas.” I have.

Federal whistleblower complaints, transmission To the FDA in October A few months before the outbreak, factory officials at the Sturgis factory repeatedly deliberately tampered with records and claimed that there was a problem sealing the can of powdered milk. The complaint also destroyed only some of the batches that the company felt most contaminated after it was found that the formula contained unspecified microorganisms, neglected to test the rest of the product, and replaced it. Claims to have sent it to the storage rack.

Also, according to complaints, some product flow pipes were “drilled”, creating small pinholes that could allow bacteria to enter the system and prevent proper cleaning of equipment.

Pitching is a term used to describe when a pipe begins to corrode from the inside and eventually creates small holes and leaks. The damage may appear minor, but it usually indicates greater damage. The pinhole is comparable to the tip of an iceberg, with a much larger object just below the surface.

In response to whistleblower reports, Abbott claims that he was “dismissed for a serious breach of Abbott’s food safety policy.”

Meanwhile, Oregon Senator Ron Wyden is seeking information about Abbott’s share repurchase plans. Stock repurchases were illegal until 1982 because they were considered a tool for market manipulation.

To address the shortages caused by Abbott’s recall, President Biden has enacted the Defense Production Act to increase production, indicating that the FDA may temporarily permit the import of infant formula from abroad. I did. Currently, 98% of the powdered milk on American shelves is domestic.

https://sputniknews.com/20220520/abbott-prioritized-enriching-stockholders-over-formula-safety—report-1095671428.html Abbott prioritizes enriching shareholders over formula safety-report

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