Shares of Abbott Laboratories (NYSE:ABT) were marked 5% lower in pre-market trading after a Missouri jury awarded $495 million in a baby formula case.
The case involved a child who developed necrotizing enterocolitis after consuming Similac, with the claim that Abbott failed to warn about the risks.
The plaintiffs received $95 million in compensation and $300 million in punitive damages. Abbott plans to appeal the verdict.
Ahead of the bell, the shares were quoted at $99.55, down $5.69.
London-listed Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB), which has been hit by baby formula litigation, fell 8% in London to £41.14, its lowest level in more than 11 years.