Baby formula shortage forces CVS Health to limit purchases
2022.05.10 15:31
FILE PHOTO: CVS Health logo and stock graph are seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) – Pharmacy chain CVS Health Corp (NYSE:CVS) said on Tuesday it has limited in-store and online purchases of baby formula products to three per order, citing a supply shortfall and surging consumer demand.
The move comes after Abbott Laboratories (NYSE:ABT) recalled some of its infant formula products including Similac in February due to complaints about bacterial infections in infants who consumed the products. Abbott maintains no formula that has been distributed has tested positive for bacteria.
CVS said in an emailed statement it was working with its baby formula suppliers to address the shortage.
Retail chains Walmart (NYSE:WMT), Target (NYSE:TGT), Walgreens Boots Alliance (NASDAQ:WBA) and Kroger (NYSE:KR) did not immediately respond to Reuters requests seeking comment on purchase limits.
