$495 Million Verdict Against Abbott Laboratories as Jury Finds Baby Formula Linked to Severe Illness
St. Louis, MO — Abbott Laboratories faced a significant financial blow after a St. Louis jury determined the company must pay $495 million in damages over claims that its baby formula contributed to a severe bowel condition in a premature infant. Following the announcement on Friday, shares of Abbott dropped by 5% in after-hours trading, signaling a rocky road ahead for the pharmaceutical giant. The lawsuit was filed by Illinois resident Margo Gill, who alleged that her premature daughter, Robynn, developed necrotizing enterocolitis (NEC) after being fed Abbott’s Similac formula. NEC is a dangerous gastrointestinal … Read more