Abbott India accepts resignation of Company Secretary Sangeeta Shetty

Abbott has reached agreements with three law firms to resolve the Gill case and claims involving approximately 2,000 other individuals regarding its specialty formulas for preterm infants. The company agreed to an aggregate settlement of approximately $670 million. This amount covers the resolution of the Gill case as well as necrotizing enterocolitis (NEC) claims asserted on behalf of the additional infants. Legal Background In July 2024, a St. Louis jury awarded the plaintiff in the Gill case $495 million in damages. Abbott appealed this verdict to the Missouri Court of Appeals in December 2024, but the appeal was denied. Faced with the prospect of continuing appeals or paying approximately $600 million—representing the Gill judgment plus accrued interest to date—Abbott opted for the settlement. The agreement resolves both the specific Gill judgment and the broader group of NEC claims. What the Numbers Show The settlement structure indicates a strategic decision to cap total liability. By settling the Gill case (valued at approximately $600 million with interest) alongside ~2,000 additional claims for a combined $670 million, the company effectively resolved the broader litigation exposure for a marginal premium over the standalone Gill obligation.