Abbott Laboratories

The Securities and Exchange Commission and Federal Trade Commission are investigating Abbott Laboratories ABT 0.62% ’ baby-formula business, the company said. The SEC’s enforcement division sent a subpoena to Abbott in December requesting information about its powder infant-formula business and related public disclosures, the company said Friday in a securities filing. In addition, Abbott said it received a civil…

Salesforce signage outside office building in New York.Scott Mlyn | CNBCCheck out the companies making the biggest premarket moves:Advanced Micro Devices — The semiconductor maker rallied nearly 3% after being upgraded by Barclays to overweight from equal weight, which said it sees potential upside from direct-current and generative artificial intelligence. The firm also upgraded Qualcomm and Seagate Technology to overweight from equal weight. Qualcomm and Seagate both gained more than 2%.Wayfair — The online retailer…

A blood glucose control system with the help of a smartphone and a meter that is fixed to the skin.Ute Grabowsky | Photothek | Getty ImagesThe internet of things to remote monitor and manage common health issues has been growing steadily, led by diabetes patients.About one out of every 10 Americans, or 37 million people, are living with diabetes. Devices such as insulin pumps, which go back decades, and continuous glucose monitors, which monitor blood sugar levels 24/7, are increasingly connected to smartphones via…

The Justice Department is investigating conduct at the Abbott Laboratories infant-formula plant in Sturgis, Mich., that led to its shutdown last year and worsened a nationwide formula shortage, people familiar with the matter said.Attorneys with the Justice Department’s consumer-protection branch are conducting the criminal investigation, the people said.  The branch, which has criminal as well as civil authority, was involved last year in a settlement with Abbott that allowed its Sturgis…

Imported baby formula will be subject to tariffs again in the new year, after the expiration of exemptions implemented amid a nationwide shortage. Congress waived tariffs, which can be as high as 17.5%, to help families struggling to find formula after supply-chain problems and the closure of a crucial factory crimped supplies. A White House spokesman said the tariff waivers doubled the number of manufacturers selling baby formula in the U.S. Congress made the tariff waivers temporary as…

People are clamoring for the knee replacements and hip surgeries they had put off during the pandemic. But medical-device makers that produce those parts are struggling to meet demand.The reason: The inflation and supply chain issues that have challenged industries worldwide are now hitting the device makers. Costlier electronic components have forced Stryker Corp. , maker of surgical equipment and joint-replacement parts, to raise prices and slow purchases and production as it searches for…

Abbott Laboratories has made leadership changes at its major baby-formula manufacturing plant and in its quality organization, following a temporary shutdown of the Sturgis, Mich., plant earlier this year after contamination was found. The Abbott Park, Ill., company also plans to spend about $500 million to build a new baby-formula plant in the U.S., after analyzing the market and concluding more capacity is needed, Chief Executive…

Many U.S. households are still struggling to find baby formula, almost a year since supplies thinned on store shelves and eight months after a nationwide recall.Adults in roughly one-third of households with infant children who typically use formula had trouble obtaining it last month, according to a recent survey by the U.S. Census Bureau. Nearly one in five of affected households has less than a week of formula on hand, the survey showed. The survey offers one of the most detailed views yet into the…

For 25 years, I've had Type 1 diabetes. Like the tens of millions of Americans with diabetes, one of the most important things I have to do to stay healthy is make sure my blood sugar is in normal range.Continuous glucose monitors (CGMs) allow diabetics to track their blood sugar 24/7. They're incredibly useful, providing insight on how your blood sugar reacts to insulin, food, exercise and whatever else affects it.Abbott Laboratories and Dexcom are the leaders in the CGM market, which hit $5.1 billion in revenue in 2021…

A new heart valve repair device from Edwards Lifesciences Corp. was as effective as the market-leading device from Abbott Laboratories in a clinical study of heart-disease patients, a finding likely to intensify competition in a growing device market.Edwards said Thursday that its new product, known as Pascal Precision, had been approved by the U.S. Food and Drug Administration for the treatment of a disease called degenerative mitral regurgitation. It will be…