Negative
21Serious
Neutral
Optimistic
Positive
- Total News Sources
- 4
- Left
- 2
- Center
- 1
- Right
- 1
- Unrated
- 0
- Last Updated
- 22 days ago
- Bias Distribution
- 50% Left
Abbott, Reckitt Triumph in NEC Liability Case
Abbott Laboratories and Reckitt's Mead Johnson unit were cleared of liability in a lawsuit claiming their premature baby formulas caused a severe intestinal disease called necrotizing enterocolitis (NEC), which primarily affects premature infants. This verdict marked a significant win for both companies after previous losses led to hefty settlements. The decision followed a five-week trial in St. Louis, where the jury found no failure in warning about the risks associated with the formulas. Abbott's stock rose nearly 5% in response, and Reckitt shares increased more than 10%. Analysts suggest this victory may reduce Abbott's potential liability by $500 million to $1 billion. Despite the win, Abbott and Reckitt face around 1,000 similar lawsuits, raising concerns about the formulas' availability and the companies' market positions.
- Total News Sources
- 4
- Left
- 2
- Center
- 1
- Right
- 1
- Unrated
- 0
- Last Updated
- 22 days ago
- Bias Distribution
- 50% Left
Negative
21Serious
Neutral
Optimistic
Positive
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