The Biden Administration in the latest effort to remedy baby formula shortages is going help foreign baby formula makers to remain in the U.S market for long term to diversify the highly consolidated industry. The Food and Drug Administration is working with overseas manufacturers since a month to bring FDA-approved formula to United States and counter the nationwide formula shortage. This shortfall has been the result of a major factory closure early this year and the monopoly practices of the industry.
The White House has said that by the coming Sunday 43 million 8-ounce bottle equivalents of infant formula would be brought into U.S and FDA has cleared the equivalent of 400 million 8-ounce bottles for import. A White House spokesperson said, “Today’s announcement by the FDA will help ensure the infant formula supply market is less vulnerable to future supply shocks and will provide families with the confidence of steady access to a variety of safe infant formulas.”
