financetom
Business
financetom
/
Business
/
Fresenius looking to boost output after hurricane damage at rival Baxter
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Fresenius looking to boost output after hurricane damage at rival Baxter
Oct 10, 2024 9:52 PM

FRANKFURT (Reuters) -Germany's Fresenius said it was checking options to speed up the start of new production lines of medical equipment at a North Carolina facility to help mitigate potential shortages from hurricane damage to rival Baxter's site in the same state.

"We are working with the U.S. Food and Drug Administration's Drug Shortage Staff, which is actively engaged with Baxter and other manufacturers" to assess whether and by how much capacity has to be increased, Fresenius said in a statement.

The Germany-based healthcare group said its generic hospital drugs unit Fresenius Kabi had recently started manufacturing intravenous (IV) solutions at a new facility in Wilson, North Carolina, and that it was checking options to start up more production lines faster than planned in the unaffected location.

"Such a ramp-up of U.S. production at our Wilson site would take several months and would not be sufficient to make up for a prolonged loss of production by Baxter," the German company added.

U.S. Senator Amy Klobuchar on Tuesday urged the Department of Health and Human Services to address the shortage "as quickly and safely as possible" and coordinate with the Federal Trade Commission and Department of Justice to prevent the distribution of counterfeit IV solutions.

Hurricane Helene slammed into the Florida Gulf coast in late September, ripping up roads, tossing homes about and severing lines of communication through southeastern U.S. states. In its wake, hundreds of people were unaccounted for and many confirmed dead.

On Sept. 29, medical device maker Baxter said its North Cove site had been affected by hurricane-related flooding and was closed for production. It said it was working with the government to assess the damage and bring the plant back online as quickly as possible.

Baxter said in a statement on Monday it was working with government agencies, including the U.S. Food and Drug Administration, on special importation requirements for certain sites and products located outside the United States.

"We have moved finished goods from our North Cove site that were not impacted by the storm and are inspecting other finished goods onsite. This inventory will be used to support current allocations in the short term," Baxter said.

(Reporting by Ludwig Burger; Additional reporting by Christy Santhosh and Mariam Sunny in Bengaluru;Writing by Friederike Heine Editing by Madeline Chambers and Devika Syamnath)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ameresco Wins Contract to Implement Energy Upgrades at Canadian Forces Base
Ameresco Wins Contract to Implement Energy Upgrades at Canadian Forces Base
Mar 14, 2024
12:38 PM EDT, 03/14/2024 (MT Newswires) -- Ameresco ( AMRC ) said Thursday it has been awarded a contract to design and implement energy upgrades for 124 buildings at the Canadian Forces Base in Edmonton, Canada. Financial details of the contract weren't disclosed. The project is currently in the design stage, which is expected to extend through the rest of...
Hedge fund manager faces arrest over $533 million taken from ed-tech startup
Hedge fund manager faces arrest over $533 million taken from ed-tech startup
Mar 14, 2024
NEW YORK (Reuters) - A U.S. bankruptcy judge on Thursday ordered the arrest of William Cameron Morton, a hedge fund manager who allegedly helped Indian education technology startup Byju's hide $533 million from its lenders. Byju's Alpha, a subsidiary controlled by Byju's lenders, filed for U.S. bankruptcy in February after the Bangalore-based startup defaulted on $1.2 billion in debt. While...
Cullinan Oncology Finance Chief Jeffrey Trigilio to Leave
Cullinan Oncology Finance Chief Jeffrey Trigilio to Leave
Mar 14, 2024
12:43 PM EDT, 03/14/2024 (MT Newswires) -- Cullinan Oncology ( CGEM ) said Thursday that its Chief Financial Officer Jeffrey Trigilio is leaving the company, effective March 29. Trigilio agreed to support Cullinan through the transition period after his departure, according to the company. Price: 16.88, Change: -0.10, Percent Change: -0.59 ...
Why Indian IT Major Wipro Shares Are Trading Higher Today
Why Indian IT Major Wipro Shares Are Trading Higher Today
Mar 14, 2024
Wipro ( WIT ) Limited shares are trading higher after the company announced that it penned an agreement with Desjardins to modernize consumer banking services using its NetOxygen platform. As per the deal, Wipro Gallagher Solutions’ (WGS), a Wipro Company and provider of cloud-based Loan Origination Systems (LOS), flagship NetOxygen solution will integrate and manage Desjardins’ multiple in-house and legacy systems to bring...
Copyright 2023-2026 - www.financetom.com All Rights Reserved