Abbott has agreed to pay over $384 million to the U.S. Justice Department to settle allegations related to contaminated infant formula. The settlement resolves legal claims stemming from safety concerns regarding its baby food products.

Settlement Details

The agreement addresses allegations that Abbott failed to properly test and monitor its infant formula for contaminants. The company will pay the specified amount to resolve these matters without admitting wrongdoing.

What the Numbers Show

The $384 million settlement represents a material cash outflow for Abbott. This figure reflects the cost of resolving regulatory and legal risks associated with product safety failures, impacting near-term liquidity and net income.

• Abbott agrees to pay over $384 million in settlement.
• The payment resolves allegations of contaminated infant formula.
• The deal was announced by the U.S. Justice Department.

Abbott India accepted the resignation of Sangeeta Shetty as Company Secretary and Compliance Officer. She will be relieved from her duties effective the close of business hours on October 28, 2026.

The Board of Directors approved the resignation, which Shetty submitted to pursue an external career opportunity. The company made the disclosure in compliance with Regulation 30 read with Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Resignation Details

Shetty confirmed in her resignation letter that there are no other material reasons for her departure besides the stated career move. This confirmation aligns with Clause 7C of Part A of Schedule III of the SEBI Listing Regulations.

Managing Director Kartik Rajendran signed the intimation letter addressed to BSE Limited on September 7, 2026. The filing included Annexure A with specific details regarding the change in key managerial personnel.