Abbott (NYSE: ABT) has reached agreements with three law firms to resolve the Gill case and claims involving approximately 2,000 other individuals relating to the company's specialty formulas for preterm infants.

In July 2024, a St. Louis jury awarded the plaintiff in the Gill case $495 million in damages. Abbott appealed the verdict to the Missouri Court of Appeals in December 2024, but the appeal was denied. Rather than continuing to appeal or paying approximately $600 million, representing the Gill judgment plus accrued interest to date, Abbott entered into agreements to resolve the Gill case as well as necrotizing enterocolitis (NEC) claims asserted on behalf of approximately 2,000 additional infants for an aggregate amount of approximately $670 million.