Baby Formula Makers Abbott and Reckitt See Stocks Slide as Judge Allows Retrial | Global News Avenue

Abbott Laboratory (abt) Stocks declined, Reckitt Benckiser’s stock fell on the day in London after Reckitt said a state judge ruled that plaintiffs could seek a retrial against infant formula makers.

In October, Missouri jury Cleared Abbott and Laker Necrotizing enterocolitis (NEC), a disease of the intestine, is caused in the liability for accusing its infant formula products. Abbott made the Similac brand formula, and Reckitt owns Mead Johnson.

“Twelve citizens of St. Louis served on the jury for five weeks, heard all the evidence, including the main experts, and unanimously found that Abbott’s formula did not lead to the NEC. Their verdict was correct. This is consistent with the consensus of scientists, government regulators and neonatologists who treat these vulnerable patients.” Investopedia Friday.

“We plan to appeal immediately and we expect the jury’s verdict to be restored,” Abbott said.

Reckitt said the judge’s decision to allow plaintiffs to seek a new trial “totally contradict the law and facts,” Reckitt said. The company also said it intends to appeal.

The development that follows Similar situations This was ruling on the company in early 2024.

Abbott shares fell 2.4% in the U.S. on Friday, while Reckitt’s shares fell about 2% on the London Stock Exchange.