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PBM v. Mead Johnson

This article was originally published in The Tan Sheet

Executive Summary

Infant formula litigation settled out of court, Mead parent Bristol-Myers Squibb announces in third quarter 10Q filed recently with SEC. Although details of Oct. 12 settlement are confidential, filing notes Mead recorded a charge of "$42 mil. for settlement of litigation over promotional claims brought by a distributor of store brand infant formula." Mead already had ceased distribution of the two ads questioned by PBM lawsuit and sent roughly 90,000 corrective letters alerting pediatricians about the misleading information (1"The Tan Sheet" May 7, p. 13). PBM says financial settlement represents "consideration paid for damages done"...
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