Abbott recalls its number 1 Similac powdered infant formulas. The recall was due possible Bettle contamination of the infant formula. The company has recalled around 5 million units of Similac in the US, Puerto Rico, Guam and
other Caribbean markets.Abbott’s stock has risen 4.5% since the alert was issued. It is estimated the returns will cut about US$100 million from its third quarter revenue.
Abbott Laboratories which trades as ABT in NYSE is a pharmaceuticals health care company. The infant formula maker posted revenue of US$30.8 Billion for the financial year -2009. It produces range of products including drug for arthritis, treatment for HIV etc.,.
No comments:
Post a Comment