Citi sees overturned verdict in state case as incrementally negative for Abbott
Citi notes that Investing.com reported on Friday that the judge in the Whitfield infant formula case has overturned the October 31 verdict, which was in favor of Reckitt Benckiser’s (RBGLY) Mead Johnson unit. The jury had originally ruled that Mead Johnson was not liable for failing to warn of the risks of NEC related to its infant formulas. As a reminder, for Abbott (ABT), there is a Federal multidistrict litigation case scheduled for May 5, 2025, in Chicago. The firm anticipates that the case