LONDON (Reuters) – Shares in British consumer goods company Reckitt Benckiser hit their lowest in over 11 years on Monday, after a U.S. jury found Abbott Laboratories formula caused a girl to develop a dangerous bowel disease.
The jury found Abbott must pay $495 million in damages.
Close to 1,000 lawsuits have been filed against Abbott Labs, British peer Reckitt Benckiser, or both, in U.S. federal or state courts.
“This is likely to depress sentiment on the risk for both cited defendants,” said Jefferies equity analysts in a note.
Reckitt Benckiser shares fell as much as 9.2% to 40.75 pounds per share, their lowest level since January 2013.
By 0724 GMT, shares were down 8.1% at 41.20 pounds per share, heading for their biggest daily drop since March.
(Reporting by Samuel Indyk; Editing by Amanda Cooper)
