HEALTH

2 Infant Formula Companies Settle Price-Fixing Charges: Two of the nation’s top three makers of baby formula have agreed to pay $5 million to settle charges by the state of Florida that they conspired to drive up prices, Florida’s attorney general said. Under the agreements, Bristol-Myers Squibb Co. will pay $4 million and American Home Products Corp. $1 million. Both companies issued statements denying the allegations, but said the settlement was preferable to a long, expensive court battle. Bristol-Myers Squibb’s Mead Johnson controls about 30% of the $1.5-billion infant formula industry, and American Home Products about 8%, according to the Federal Trade Commission. Abbott Laboratories, which controls about half of the market, was included in the original complaint and faces charges that are pending.