FOOD

Abbott Agrees to $32-Million Settlement: The maker of Similac infant formula has agreed to pay $32.5 million over price-fixing allegations in 17 states. Abbott Laboratories denied any wrongdoing and said it settled to avoid further legal costs. The Abbott Park, Ill.-based company agreed to pay $25 million and distribute $7.5 million worth of formula to the needy. The deal represents Abbott’s effort to put behind it years of litigation over baby formula. Abbott, Mead Johnson Nutritional Group and American Home Products Corp. were accused by federal authorities in 1992 of fixing prices. The three companies control the bulk of the formula business in the U.S. Mead Johnson makes Enfamil and Prosobee and American makes Bonamil and Nursoy. The settlement affects suits in Alabama, Colorado, Florida, Illinois, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, North Dakota, Nevada, North Carolina, South Dakota, Tennessee, West Virginia and Wisconsin.