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Zantac

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business1 year ago

GSK Faces $2B Zantac Lawsuit After Delaware Ruling

GSK shares plummeted by up to 10% in London trading, erasing about £7 billion from its market value, after a Delaware court ruled that the company must face trials over claims that its former heartburn drug Zantac causes cancer. The ruling, which contrasts with a previous federal court decision, has raised investor concerns about prolonged litigation and potential settlements estimated between $3 billion and $7.5 billion. GSK plans to appeal the decision, maintaining that Zantac does not cause cancer.

via Yahoo Finance|
#business#gsk#litigation
companies1 year ago

GSK Shares Plunge 9% as Delaware Court Allows 70,000 Zantac Lawsuits

GSK shares plummeted over 9% after a Delaware judge allowed more than 70,000 lawsuits alleging that the discontinued heartburn drug Zantac caused cancer to proceed. The ruling, which GSK plans to appeal, has significantly impacted the company's market value, wiping out nearly 7 billion pounds. Analysts predict the potential liability could exceed initial market assumptions of $2 billion to $3 billion. The decision follows a recent jury verdict in Chicago that favored GSK, rejecting claims that Zantac caused colon cancer.

via Reuters|
#cancer#companies#gsk
legal1 year ago

Jury Rules Zantac Not Linked to Woman's Cancer in Landmark Trial

A Chicago jury ruled that the heartburn drug Zantac did not cause an Illinois woman's colon cancer, marking the first trial among thousands of similar lawsuits. The jury sided with drugmakers GSK and Boehringer Ingelheim, who argued that there was no scientific evidence linking Zantac to cancer. The plaintiff, Angela Valadez, had sought $640 million in damages, but the jury found insufficient proof that Zantac was a cause of her cancer. The companies plan to continue defending against future claims.

via Reuters|
#cancer#jury-verdict#lawsuit
legalpharmaceuticals1 year ago

Sanofi Settles Thousands of Zantac Cancer Lawsuits in US

Sanofi has reached an agreement in principle to settle 4,000 U.S. lawsuits linking the discontinued heartburn drug Zantac to cancer, without disclosing the financial terms. The settlement, which still needs to be finalized, will resolve most of the lawsuits against the French pharmaceutical company in U.S. state courts, except for Delaware. Sanofi did not admit any liability in the settlement and stated that it is settling to avoid the expense and ongoing distraction of the litigation. The company still faces about 20,000 lawsuits over Zantac in Delaware state court, and a judge is considering the fate of approximately 70,000 cases filed against Sanofi and other defendants.

via Reuters|
#cancer-lawsuits#legalpharmaceuticals#pharmaceutical-industry
business2 years ago

GSK settles first Zantac cancer lawsuit, shares surge.

GlaxoSmithKline (GSK) has agreed to settle a lawsuit alleging that its discontinued heartburn drug Zantac caused cancer, preventing the first such case from going to trial next month. The settlement was reached with Californian resident James Goetz, who says he developed bladder cancer from taking the drug. GSK did not admit any liability and said it would vigorously defend itself in any other Zantac cases. The trial was due to start on July 24, the first test of how Zantac cancer claims would fare before a jury.

via Yahoo Finance|
#business#cancer-lawsuit#gsk