Abbott Reaches Agreement to Pay $385 Million to Resolve US Claims Over Infant Formula
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Abbott Laboratories has reached an agreement with the Department of Justice to resolve claims related to a 2022 infant formula recall. The settlement involves a payment of $385 million to address allegations concerning poor manufacturing practices at two facilities, including one linked to a contaminated facility that produced powder infant formula.
This agreement comes as part of ongoing efforts to address the fallout from the recall, which raised significant concerns about the safety of infant formula products. The settlement aims to bring closure to the investigations and allegations surrounding Abbott's manufacturing processes.
Sources
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“Abbott reaches agreement with Department of Justice to resolve claims relating to 2022 infant formula recall”
SEC Filing — Abbott reaches agreement with Department of Justice to resolve claims relating to 2022 infant formula recall“Abbott Laboratories agreed to pay $385 million to settle US allegations related to poor manufacturing practices at two facilities, including one involving an investigation of a contaminated facility”
Bloomberg — Abbott to Pay $385 Million to End US Claims Over Infant Formula