GSK Says Plaintiff to Drop Zantac Case
17 August 2022 - 4:20PM
Dow Jones News
By Ian Walker
GSK PLC said late Tuesday that the plaintiff's counsel in the
first of the U.S. lawsuits over discontinued heartburn drug Zantac
plans to file a notice of voluntary dismissal.
The pharmaceutical giant said that it didn't settle Joseph
Bayer's claim and hasn't made any payment for the dismissal.
"GSK welcomes this outcome and believes the dismissal of Mr.
Bayer's case is the correct result. The overwhelming weight of the
scientific evidence supports the conclusion that there is no
increased cancer risk associated with the use of ranitidine," the
company said.
Last week, shares of GSK PLC, Sanofi and Haleon PLC went on a
roller-coaster ride following some analysts' comments related to
their potential exposure as part of the U.S. lawsuits over
discontinued heartburn drug Zantac, and subsequent statements
responding to them by the companies.
Analysts at Deutsche Bank said some "billions of dollar
magnitude" liabilities could be incurred while analysts at Credit
Suisse noted that Haleon's prospectus says indemnification "may"
include liabilities from Zantac.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 17, 2022 02:05 ET (06:05 GMT)
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