Reported 25 days ago
Abbott Laboratories' shares increased nearly 5% following a jury's ruling that the company, alongside Reckitt's Mead Johnson, is not liable for a child's severe intestinal disease linked to its premature infant formulas. This ruling is the company's first win in a series of lawsuits alleging that their specialized formulas used in NICUs can cause necrotizing enterocolitis (NEC), a serious condition affecting premature infants. Analysts suggest that this outcome could significantly reduce Abbott's potential financial liabilities.
Source: YAHOO