Recall of infant formulas by Abbott saying on its website that the recall affects about 5 million containers has been updated by the Food and Drug Administration. The containers are of Similac - brand powdered infant formulas including Isomil and Go& Grow.

The recall was ordered last week by Abbott following a possibility of infant formulas containing insect pieces, their larvae and beetle.

Abbott Laboratories has settled to purchase the domestic healthcare production of India's Piramal Healthcare Ltd., which is a leading generics corporation, for $3.72 billion, the companies stated on Friday.

The contract reflects the mounting international significance of generics as well as the increase of India's customer market for drugs.