Abbott Bypasses Appeals Process To Settle Ongoing Premature Infant Formula Litigation

Abbott Laboratories (NYSE:ABT) on Friday reached a significant agreement with three law firms to resolve the Gill lawsuit alongside claims from roughly 2,000 individuals.These disputes center around the company’s specialty infant formulas for premature babies and allegations connecting the products to necrotizing enterocolitis (NEC), a severe inflammatory intestinal disease affecting underdeveloped infants.In July 2024, a St. Louis jury delivered a $495 million verdict against the health care co