Abbott, other baby-formula producers under FTC investigation for collusion By Investing.com

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Abbott, other baby-formula producers under FTC investigation for collusion

Published May 24, 2023 11:06

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Abbott, other baby-formula producers under FTC investigation for collusion

ABT

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NSRGY

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RBGLY

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The U.S. Federal Trade Commission (FTC) is looking into whether baby-formula makers, including Abbott Laboratories (NYSE:ABT), Reckitt Benckiser (OTC:RBGLY), and Nestlé (OTC:NSRGY) colluded on bids for state contracts, the Wall Street Journal reports.

The regulator is reportedly investing whether baby-formula producers have “engaged in collusion or coordination with any other market participant regarding the bidding” for state contracts.

The WSJ report cites FTC’s documents published in April.

Other agencies also launched probes in recent months, including the Justice Department.

In January, the FTC approached Abbott and asked for information about bidding for the state infant-formula supply contracts.

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Abbott, other baby-formula producers under FTC investigation for collusion

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