FDA Setting New Framework To Maintain Infant Formula Supply

RTTNews | Pred 916 dňami
FDA Setting New Framework To Maintain Infant Formula Supply

(RTTNews) - The U.S. Food and Drug Administration is looking to set a new framework to further improve and maintain the supply of infant formula to ensure that American consumers have access to safe and nutritious infant formula.

Infant formula is an essential food product that is the sole source of nutrition for many babies in the U.S. The recent shutdown of a major infant formula plant and unforeseen natural weather events has put a spoke in the supply chain of infant formula.

However, the FDA sets rigorous standards for companies and their manufacturing facilities to ensure the formula is both safe and nutritious.

The FDA issued guidance in May 2022 to temporarily exercise enforcement discretion to address the temporary shortage of infant formula. The agency has prioritized review of requests from firms that can supply large volumes of both safe and nutritious formula to get back the product onto U.S. shelves quickly.

The FDA's flexibilities have enabled the agency to help dramatically increase infant formula supplies to address the shortage. To date, it has resulted in a total estimated quantity of more than 400 million, 8-ounce bottles worth of formula from nine countries for children in the U.S.

The agency's flexibility has also resulted in creating more resiliency in the U.S. infant formula supply chain and reducing the risk of reliance on too few production facilities supporting the U.S. It also helped bring safe and nutritionally adequate infant formula products into the U.S. marketplace on a temporary basis to address the formula shortage.

To help provide for the long-term availability and marketing of many of these brands of infant formula, The FDA has determined to set a more streamlined pathway.

The agency is now looking to provide a single technical assistance contact for any company aiming to enter the U.S. infant formula market. This will make it easier for potential new entrants to navigate the FDA's regulatory review process. It is also expected to encourage more entrants into the market, including new domestic firms.

Further, the FDA will provide a pathway for companies that import, sell, and/or distribute formula under its temporary enforcement discretion policy to continue to supply infant formula to the U.S. past November, when the May guidance is set to expire.

The FDA also intends to host meetings this summer with companies that import, sell, and/or distribute formula under the FDA's temporary enforcement discretion policy to determine what additional steps would be needed to provide a pathway to long-term, uninterrupted marketing for safe and nutritious formula.

The FDA expects that these continued efforts will help the new entrants to the U.S. market for infant formula to better understand their options to continue producing and supplying instant formula to the U.S. in the future also.

read more
U.S. Wholesale Inventories Dip 0.2% In November, In Line With Estimates

U.S. Wholesale Inventories Dip 0.2% In November, In Line With Estimates

Wholesale inventories in the U.S. dipped in line with estimates in the month of November, the Commerce Department revealed in a report released on Wednesday. The Commerce Department said wholesale inventories slipped by 0.2 percent in November, matching the preliminary estimate as well as economists' expectations.
RTTNews | Pred 7 h 27 min
U.S. Jobless Claims Unexpectedly Slip To Nearly Eleven-Month Low

U.S. Jobless Claims Unexpectedly Slip To Nearly Eleven-Month Low

With the more closely watched monthly jobs report looming, the Labor Department released a report on Wednesday unexpectedly showing another modest decrease by first-time claims for U.S. unemployment benefits in the week ended January 4th. The report said initial jobless claims slipped to 201,000, a decrease of 10,000 from the previous week's unrevised level of 211,000.
RTTNews | Pred 8 h 6 min
U.S. Private Sector Job Growth Slows More Than Expected In December

U.S. Private Sector Job Growth Slows More Than Expected In December

Private sector employment in the U.S. increased by less than expected in the month of December, according to a report released by payroll processor ADP on Wednesday. The report said private sector employment rose by 122,000 jobs in December after climbing by 146,000 jobs in November. Economists had expected private sector employment to grow by 140,000 jobs.
RTTNews | Pred 8 h 43 min
U.S. Weekly Jobless Claims Unexpectedly Dip To 201,000

U.S. Weekly Jobless Claims Unexpectedly Dip To 201,000

With the more closely watched monthly jobs report looming, the Labor Department released a report on Wednesday unexpectedly showing another modest decrease by first-time claims for U.S. unemployment benefits in the week ended January 4th.
RTTNews | Pred 9 h 12 min
Amazon's AWS To Invest At Least $11 Bln In Georgia For Cloud, AI Infrastructure

Amazon's AWS To Invest At Least $11 Bln In Georgia For Cloud, AI Infrastructure

Amazon Web Services or AWS, affiliated to tech major Amazon.com Inc., announced its plan to invest at least $11 billion in the U.S. state of Georgia, aiming to expand infrastructure to support cloud computing and artificial intelligence technologies. The landmark investment in Butts and Douglas counties, which is expected to create at least 550 new high-skilled jobs, would enhance Georgia's...
RTTNews | Pred 9 h 23 min
Eurozone Economic Sentiment Deteriorates Sharply

Eurozone Economic Sentiment Deteriorates Sharply

Euro area economic confidence deteriorated to the lowest in more than a year in December as the improvement in services sentiment was offset by weaker morale in industry, construction and among consumers. The economic sentiment index dropped more-than-expected to 93.7 in December from 95.6 in the previous month.
RTTNews | Pred 10 h 11 min
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Wednesday.
RTTNews | Pred 10 h 45 min