Abbott -all about money- has lobbyists to lower regulations

[womanofthehills]

Abbott spent 5 billion buying back its own stock while paying lobbyists to lower testing times and regulations.

As critics have noted, the formula industry had wide latitude to expand production and increase spending on safety standards. Abbott last year announced that it had spent $5 billion purchasing its own stock.


The shortage has other contributing factors. The U.S. maintains strict limits on imports of European brands of infant formula, despite studies showing that products under European Union regulations have high safety and nutrition standards. Competing brands in the U.S. have attempted to ramp up production to make up for the loss of Abbott Nutrition’s Sturgis factory but have encountered supply chain problems.

https://theintercept.com/2022/05/13/baby-formula-shortage-abbott-bacteria-safety-testing-lobbying/

[Budi]

1. CT here: Did Abbott do Trump a favor in exchange for Profit?

Not a stretch...

"And under President Donald Trump, the U.S. entered into a new North American trade agreement that actively discourages formula imports from our largest trading partner, Canada."

https://upload.democraticunderground.com/100216690420

[womanofthehills]

2. Good informative thread ....

Also sounds like many European countries have higher standards for baby formula - like no GMO corn syrup and GMO soy in baby formulas. Goats milk is mostly used in Europe as its better tolerated by babies.

Being much of infant formula is vitamins, we have no way of even knowing where Abbott sources it’s vitamins - from China??? With such high levels of glyphosate in GMO corn and soy - all their formulas should use organic sources. This has one possible positive outcome - mother’s online are now questioning ingredients in baby formulas.

[Budi]

4. True. My daughter ordered our new grandaughter's formula from Germany for that very reason.

Purity of ingredients.

It was shipped on time, no problems & was no more costly than buying local sold formula.

Link to The Atlantic article:

https://www.theatlantic.com/ideas/archive/2022/05/baby-formula-shortage-abbott-recall/629828/

[RainCaster]

3. As Abbot lowers its reputation

As all Americans have seen, that corporation has no soul.

[womanofthehills]

5. Agree - if they put all their money into buy back instead of upgrading their plant

Why would anyone think they would use quality ingredients in their baby formulas.

[Budi]

6. 👍 Yup.