GSK settles Zantac case in California without admitting liability.
GSK announced on Thursday that it had reached a confidential settlement to effectively resolve the legal case over Zantac filed in a California state court.
GSK
29 April 2024 17:21:19
Source: Sharecast
The FTSE 100 pharmaceutical giant firm said a trial was originally scheduled for 20 February, but the case would now be dismissed.
GSK said it was committed to avoiding prolonged litigation-related distractions.
It noted that it did not admit any liability as part of the settlement, adding that it remained dedicated to defending itself against other Zantac-related cases.
Zantac, or ranitidine, was once a blockbuster heartburn medication for GSK, but was withdrawn from sale worldwide in 2020 after a probable carcinogen was discovered in products from a number of manufacturers.
At 1034 GMT, shares in GSK were up 0.63% at 1,577.8p.
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