Who pays? Who profits?
Abbott and Bristol-Myers
face high court fight in formulas suit

Two formula giants, Abbott and Bristol Myers Squibb are facing a US Supreme Court fight in their bid to stop a class-action lawsuit accusing the companies of price fixing of baby formulas.

The suit launched by a Louisiana couple, Robin and Renee Free, is one of a series of cases accusing the companies of using their combined dominance of the infant formula market to illegally jack up prices in the 1970s, 1980s and the 1990s. The suit will be heard early in the New Year and a decision will likely be made by June 2000.

Bloomberg, the market analyst, reports that shares of both companies were down.

Stay tuned!