Abbott climbs on being cleared of liability in latest preterm formula case
** Shares of medical device maker Abbott Laboratories ABT.N rise ~5% to $118.94 premarket
** Abbott and British consumer goods company Reckitt's RKT.L unit Mead Johnson cleared of liability in a preterm formula case, accusing them of failing to warn about the risks of their premature baby formulas
** Jury finds ABT and Mead Johnson not responsible for young boy's debilitating intestinal disease
** Case one of about 1,000 similar lawsuits around U.S., which could threaten the formulas' availability or affect medical decisions
** Jefferies says, "This is the first positive outcome in this action for Mead Johnson and Abbott and could lessen concerns on final settlement liabilities"
** ABT up 3% YTD, as of last close
Reporting by Christy Santhosh
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