Case dismissal ‘another win’ for Abbott, says Citi

Citi analyst Joanne Wuensch notes that Judge Pallmeyer of the U.S. District Court for the Northern District of Illinois granted summary judgment in Abbott’s (ABT) favor in the third out of four bellwether case in the ongoing multidistrict litigation over cow’s milk-based infant formulas. The firm, which views the dismissal positively for Abbott, expects it to serve precedence in helping evaluate the rest of the NEC cases and reiterates a Buy rating on the shares.