Abbott Stock Falls 4% on Similac Spinoff: It’s Shedding Its Slowest Business, but Who Keeps the Lawsuits?

Abbott Laboratories (ABT:NYSE) shares fell more than 4% before the bell on October 21 after the company said it will spin off its Nutrition business, home of Similac, Pedialyte and Ensure, into a separate public company by the end of 2027. The unit brings in about $8.