Crain's Chicago Business

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CHICAGOBUSINESS.COM | MAY 23, 2022 | $3.50

Abbott Labs’ problem child: Baby formula Is the company’s pediatric nutrition business worth the trouble it’s causing?

JOHN R. BOEHM

BY KATHERINE DAVIS

Andrew Volckens of Huntsman Architectural Group

Co-working makes a comeback in an uncertain office market The taint of the WeWork debacle fades as tenants seeking flexibility flock to short-term, shared rentals, offering clues about the post-pandemic workspace landscape I BY DANNY ECKER

A

fter moving his architecture firm’s office among downtown WeWork locations seven times over the past five years, Andrew Volckens recently went hunting for new, larger workspace to accommodate his growing team, figuring it would be more affordable to sign a traditional lease rather than sticking with co-working. But after polling his staff, he ended up at another WeWork. “Everyone was kind of in the mindset of, ‘We want to get our own space eventually, but we want to stay in WeWork now,’ “ says Volckens, managing director in the Chicago office of San See CO-WORKING on Page 64

“BEING SURROUNDED BY OTHER PEOPLE JUST MAKES IT FEEL LIKE YOU’RE MORE INVESTED IN A COMMUNITY OR PART OF SOMETHING BIGGER. ”

Product recalls, infant deaths, federal investigations and lawsuits are turning Abbott Laboratories’ underperforming baby formula business into a major headache for the North Chicago-based medical products giant. Abbott began recalling several powder baby formulas in February when customers complained that infants fell ill with Salmonella Newport and another bacteria called Cronobacter sakazakii after consuming the products. The U.S. Food & Drug Administration investigated four hospitalizations and two deaths that occurred after infants consumed

Abbott’s products and haven’t released findings to the public yet. Additionally, several lawsuits have been filed against Abbott by affected families. Abbott didn’t respond to requests for comment on the investigation. Abbott says its formulas are not to blame for the illnesses and deaths, but FDA officials say it is too early to tell. In April, a separate collection of lawsuits targeting Abbott and baby formula competitor, Chicago-based Mead Johnson, with allegations that their cow-milk baby formulas are dangerous and sometimes deadly for premature infants were consolidated in front of a judge in Chicago. No recalls have been made over this issue, which spawned more than 80 suits. Attorneys in some of the suits previously told See ABBOTT on Page 66

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Andrew Volckens

NEWSPAPER l VOL. 45, NO. 21 l COPYRIGHT 2022 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED

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MADELEINE DOUBEK

EMPLOYMENT

Ballot for Cook County sheriff is tilted in favor of the incumbent. PAGE 2

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5/20/22 3:28 PM


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