July 26, 2024
Jury says Similac maker failed to warn of risk; Abbott says it disagrees with verdict
A jury ordered Abbott Laboratories ABT -0.68%decrease; red down pointing triangle to pay $495 million in compensation and damages after determining that the company failed to warn that its formula for premature infants increased the risk for a bowel disease.
Shares of Abbott, which makes the Similac formula, fell about 5% in extended-hours trading.
Read Abbott Ordered to Pay $495 Million in Baby-Formula Verdict.