Mead Johnson (MJN) Back on the Defensive Related to Enfamil Plant Inspection
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After recovering Tuesday from last week's Enfamil scare, Mead Johnson (NYSE: MJN) shares are under pressure again Wednesday as the FDA is investigating the company's Zeeland, Michigan plant.
"They have come in and we've been cooperating with them and providing information as they request it," Mead Johnson's global quality-services director told Bloomberg in a phone interview.
Last week, two Missouri children were infected by Cronobacter. One died. The death triggered Wal-Mart (NYSE: WMT) and other retailers to pull Mead Johnson’s Enfamil Newborn formula which was used by the dead child.
For its part, Mead Johnson has said its formula is safe. On Christmas day, the company said a new test of samples of the Enfamil batch in question confirmed the product was safe.
Shares of Mead Johnson are down 1.7 percent to $67.93 in mid-day action. The stock was at $76.48 before the scare and has traded as low as $60.62 since.
"They have come in and we've been cooperating with them and providing information as they request it," Mead Johnson's global quality-services director told Bloomberg in a phone interview.
Last week, two Missouri children were infected by Cronobacter. One died. The death triggered Wal-Mart (NYSE: WMT) and other retailers to pull Mead Johnson’s Enfamil Newborn formula which was used by the dead child.
For its part, Mead Johnson has said its formula is safe. On Christmas day, the company said a new test of samples of the Enfamil batch in question confirmed the product was safe.
Shares of Mead Johnson are down 1.7 percent to $67.93 in mid-day action. The stock was at $76.48 before the scare and has traded as low as $60.62 since.
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