Abbott To Pay $385 Mln To Resolve Claims Related To 2022 Infant Formula Recall

Abbott Laboratories reached a $385 million agreement with the U.S. Department of Justice to resolve claims tied to manufacturing practices and its 2022 powdered infant-formula recall at the Sturgis, Michigan facility. The settlement creates a material legal and reputational overhang for Abbott, though it resolves a significant outstanding liability related to the recall.