GSK settles two California lawsuits related to heartburn drug Zantac
Adds background and context
Sept 18 (Reuters) -British drugmaker GSK GSK.L said on Wednesday it had agreedto settle two lawsuits in California that claimed its discontinuedheartburn drug Zantac caused cancer.
GSK does not admit to anyliability in either settlement, it said in a statement.
The drugmaker has settled a series of lawsuits related to Zantac over the past 12 months, including several in California.
California is generally seen as a more challenginglegal environment for multinational companies as courts are known to be friendlier to plaintiffs.
Former Zantac makers GSK, Pfizer PFE.N, Sanofi SASY.PA and Boehringer Ingelheim are facing about 4,000 claims in California state court and about 2,000 in various other state courts around the country.
The bulk of the cases against GSK are in Delaware, where the British drugmaker faces more than 70,000 lawsuits.
A Delaware judge's decision in June to allow the lawsuits in the state to go forward dealt a blow to GSK, which appealed the decision.
Last month, the Delaware Supreme Court said it would hear the appeal by GSK and the other former Zantac makers.
Reporting by Yadarisa Shabong in Bengaluru; Editing by Shreya Biswas
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
