By Jared S. Hopkins
Shares of Abbott Laboratories and Reckitt Benckiser fell Friday after a judge ruled a new trial could be heard involving a case on their infant formula products that had already seen a ruling in their favor.
Reckitt shares fell about 1.7% while Abbott shares dropped nearly 3% in afternoon trading.
Last October a jury had found the companies were not liable in a state lawsuit that alleged the companies's infant formula products caused necrotizing enterocolitis, a debilitating intestinal disease that can cause bloating, vomiting and diarrhea in premature babies. A previous ruling last July had found Abbott Labs failed to adequately warn of this risk.
Analysts at Citi said the judge's decision was "incrementally negative" on Abbott.
The companies each said they would appeal the decision. Reckitt said the verdict last fall "supports our view that we have the science, the law, and the facts on our side. "
Abbott said the original verdict in favor of the companies followed "the consensus of scientists, governmental regulators, and the neonatologists who treat these vulnerable patients in intensive care units every day."
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(END) Dow Jones Newswires
March 14, 2025 13:22 ET (17:22 GMT)
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