Abbott Ordered to Pay $495M in Infant Formula Trial

Jul 26, 2024, 11:14 PM

A jury has ordered Abbott Laboratories to pay $95 million in compensatory damages after finding that its specialized formula for premature infants caused an Illinois girl to develop a dangerous bowel disease. The jury's decision came on Friday, and the total amount Abbott must pay, including punitive damages, is $495 million. This verdict has impacted Abbott Labs' stock, which fell following the announcement.