Abbott Laboratories Settles Portion of Preterm Infant Formula Litigation for $670 Million

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The settlement resolves the Gill case and claims involving approximately 2,000 other individuals for an aggregate amount of approximately $670 million. These agreements are a compromise of disputed claims and not in any way an admission of liability. Abbott remains confident in the safety of these products and the science supporting them. The settlement represents a constructive step toward substantially resolving the overall litigation. Following these agreements, there are approximately 1,700 lawsuits pending in federal and state courts involving claims on behalf of approximately 12,700 individual infants.

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About Abbott Laboratories

Abbott Laboratories, a globally renowned company, specializes in the development and production of healthcare and medical products. Founded in 1888 and headquartered in Abbott Park, Illinois, Abbott is a pivotal entity in the healthcare sector. The company provides essential products spanning diagnostics, medical devices, nutritional products, and branded generic pharmaceuticals. Notably, Abbott's extensive diagnostic solutions include immunoassays and molecular diagnostics, crucial for medical testing and healthcare management. Its medical devices division produces cardiovascular and neuromodulation products, enhancing patient care across diverse medical practices. Abbott’s nutritional segment, featuring well-known brands like Similac and Ensure, supports health and wellness across various demographics. Serving markets globally, Abbott Laboratories plays a critical role in advancing healthcare infrastructure and delivering innovative solutions that address evolving health challenges worldwide. As a significant player in the life sciences field, Abbott's contributions significantly influence patient outcomes and healthcare delivery systems.