18th Sep 2024 14:00
(Alliance News) - GSK PLC on Wednesday said it reached two confidential settlements regarding the Zantac case in California State Court.
The London-based pharmaceutical company said the cases concerned John Russell resolving his bladder cancer case, and Annette Hughes resolving her colorectal cancer case.
GSK does not admit any liability in either settlement, the company said.
Zantac was a heartburn drug that was pulled off the market in 2020 at the request of the US Food & Drug Administration, after low levels of a "probable carcinogen" were found in samples. The carcinogen, known as NDMA, is not harmful in very small amounts. However, tests showed that there were excessive quantities of NDMA in Zantac, otherwise known as ranitidine. Multiple litigations have followed.
The company has since reached several settlements under which it admitted no liability.
GSK said it will continue to defend itself and manage the litigation in the best interest of the company and shareholders.
GSK shares were 0.5% lower at 1,602.00 pence each on Wednesday afternoon in London.
By Tom Budszus, Alliance News slot editor
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