Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

CER Research Says Abbott's Response To Similac Test Results Irresponsible

3/23/2012 6:53 AM ET

Hong Kong-based CER Research Friday said Abbott Laboratories Inc.'s (ABT: Quote) response to the report released March 22 relating to the safety of the infant formula product Similac Stage 1 was "irresponsible." The report contained results which showed that the Abbott product, purchased in Hong Kong in December, failed two tests by a significant margin.

In its response, which, according to CER Research, was issued in Chinese, Abbott criticized the report for a lack of "scientific-ness, objectivity and fairness." CER Research's rebuttal claims that the results were obtained from "named and recognized laboratories and experts", adding that it has "no independent view" on the product. Further, CER Research said its attempts to contact Abbott were rebuffed.

Click here to receive FREE breaking news email alerts for Abbott Laboratories and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The Reserve Bank of New Zealand on Thursday raised its Official Cash Rate by 25 basis points, to 3.00 percent from 2.75 percent. The decision was in line with expectations, and it marks the second straight month with a rate hike following 24 straight meetings in which the rate was not changed. New Zealand's economic expansion has considerable momentum, with GDP estimated to have grown by 3.5 percent in the year to March. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter. Stocks moved mostly lower during trading on Wednesday, giving back some ground after trending higher over the past several sessions. Selling pressure was relatively subdued, however, limiting the downside for the markets. The major averages all closed in the red, although the tech-heavy Nasdaq underperformed its counterparts by a wide margin.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.