Peroigo settles lawsuit over infant formula prices

Perigo has agreed to pay $10 million to settle a class action lawsuit in the United States. The lawsuit accused the company of colluding with Gerber Products to prevent new competitors from entering the private-label baby formula market, allowing them to raise prices for consumers. The settlement includes millions of consumers who purchased private-label baby formula since April 2020. Perigo has agreed to cooperate with the plaintiffs and not to enter into agreements that hinder competition for three years without a legitimate business reason, while both companies deny any wrongdoing. The company is one of the leading suppliers of store-brand baby formula in the U.S. market, where such products are typically sold at lower prices than well-known brands.

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