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News Breaks | | | | March 22, 2012 | | 06:58 EDT |  | ABT | Abbott Chinese infant formula violates China National Standards, CER reports
An infant formula product produced by Abbott Laboratories, failed to reach China national safety standards and tested worst among a selection of six infant formula powders sold on the Chinese market, according to a research report released by Hong Kong-based research house CER Research. The release of the research report on Abbott's Similac Stage 1 milk powder product coincided with Chinese media reports Wednesday of a father in the China city of Hangzhou who says he had found half of a condom inside an Abbott milk powder package which he had purchased for his daughter. Abbott's total mainland China revenues for 2011 are estimated to have been between $0.95B-$1.10B, based on CER Research's investigations. CER Research said it had submitted the test results and report findings to the relevant food quality assessment government organizations in Shanghai and Guangdong province – the Shanghai Municipal Bureau of Quality and Technical Supervision and the Administration of Quality and Technology Supervision of Guangdong Province. Both confirmed receipt and said they are looking into the case. The poor performance of the Abbott infant formula product was confirmed in additional testing performed by DTS Food Laboratories in Kensington, Australia. Reference Link | |
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News For ABT From The Last 14 Days Check below for free stories on ABT the last two weeks. |
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| May 21, 2013 | | 08:03 EDT |  | ABT | Abbott announces CE Mark for coronary drug eluting stent
 Subscribe for More Information | | | May 20, 2013 | | 10:11 EDT |  | ABT | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 06:01 EDT | | ABT | Abbott upgraded to Buy from Neutral at Goldman
Goldman upgraded Abbott to reflect accelerating growth driven by emerging markets, better growth and product mix, new product launches, and market share gains. Price target raised to $44 from $38. | | | May 9, 2013 | | 07:04 EDT | | ABT | Abbott announces CE Mark for A1c test
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