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Reckitt company response (emailed) on the $60m Illinois court decision

CONSUMER STAPLES
  • "While we continue to offer our deepest condolences to Ms. Watson, we strongly disagree with the jury’s decision to fault Mead Johnson and award damages. We continue to believe that the allegations from the plaintiff’s lawyers in this case were not supported by the science or experts in the medical community. This was underscored during the trial by a dozen neonatologists. We will pursue all options to overturn the verdict" (bbg)
  • Its Nutrition business, which contains the infant formula/Enfamil brand in focus, made up 16% of revenue in FY23 - no breakdown on how much of that is Enfomil vs. Nutramigen.
  • In results it emphasised "Our Enfamil brand remain the number one recommended infant formula by paediatricians in the US."

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