Abbott, which produces Similac, saw its shares drop about 5% in after-hours trading
A jury ordered Abbott Laboratories to pay $495 million in damages after finding that the company failed to warn about its infant formula’s risk of causing a potentially deadly bowel disease.
The jury awarded her $95 million in compensatory damages and $400 million in punitive damages (which may be reduced by the judge or overturned on appeal).
Abbott, which produces Similac, saw its shares drop about 5% in after-hours trading.
The verdict comes in the first trial against the company. Abbott has hundreds of similar claims over the formula pending in courts nationwide.