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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