Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,754.00
Bid: 1,753.50
Ask: 1,754.50
Change: -21.00 (-1.18%)
Spread: 1.00 (0.057%)
Open: 1,770.00
High: 1,770.00
Low: 1,750.00
Prev. Close: 1,775.00
GSK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Sanofi to settle 4,000 Zantac cancer lawsuits in US state courts

Thu, 04th Apr 2024 00:03

NEW YORK, April 3 (Reuters) - Sanofi has reached an agreement in principle to settle 4,000 U.S. lawsuits linking the discontinued heartburn drug Zantac to cancer, the company said on Wednesday.

Sanofi did not disclose the financial terms of the deal. The agreement, which still needs to be finalized, will resolve most of the lawsuits against the French pharmaceutical company in U.S. state courts, with the exception of Delaware where the majority of the cases are pending.

Sanofi did not admit any liability in the settlement, and said it is settling to avoid the expense and ongoing distraction of the litigation.

"Sanofi has vigorously defended the Zantac litigation since the outset and will continue to do so," the company said in a statement.

Sanofi still faces about 20,000 lawsuits over Zantac in Delaware state court. A judge in Delaware Superior Court in Wilmington is weighing the fate of about 70,000 cases filed against Sanofi and other defendants, including GSK, Pfizer, and Boehringer Ingelheim.

GSK, Boehringer Ingelheim and Pfizer did not immediately respond to requests for comment.

Plaintiffs and defendants are awaiting a ruling from the judge on whether there is sufficient scientific evidence to support plaintiffs' claims that Zantac causes cancer.

The drugmakers notched a significant win in 2022, when another judge dismissed about 50,000 lawsuits making similar claims that had been consolidated in federal court in Florida.

That judge concluded that the opinions of the plaintiffs' expert witnesses that Zantac can cause cancer were not supported by sound science. Plaintiffs are appealing that ruling.

The drugmakers have maintained that there is no evidence Zantac exposed users to harmful levels of the carcinogenic chemical NDMA.

Jennifer Moore and Brent Wisner, who are the lead plaintiffs’ attorneys in the Delaware and California litigation, said on Wednesday that they were pleased that Sanofi had reached a settlement while litigation continues against other defendants.

"We are pushing forward aggressively against GSK and Boehringer Ingelheim and are preparing for multiple trials in California state court this year," Moore said.

First approved in 1983, Zantac became the world's best- selling medicine in 1988 and one of the first-ever drugs to top $1 billion in annual sales. Originally marketed by a forerunner of GSK, it was later sold successively to Pfizer, Boehringer and finally to Sanofi. In 2019, some manufacturers and pharmacies halted Zantac sales after NDMA was detected in some pills. Some tests showed that Zantac's active ingredient, ranitidine, could degrade into NDMA over time or when exposed to heat.

Lawsuits began piling up from people who said they developed cancer after taking Zantac. Plaintiffs said the companies knew, or should have known, that ranitidine posed a cancer risk and that they failed to warn consumers.

The U.S. Food and Drug Administration asked manufacturers to pull the drug off the market in 2020.

Sanofi now sells Zantac360, a reformulated heartburn medicine whose active ingredient is famotidine. (Reporting by Dietrich Knauth in New York Editing by Chris Reese, Alexia Garamfalvi and Matthew Lewis)

More News
12 Feb 2024 17:11

London close: Stocks finish higher after very quiet Monday

(Sharecast News) - London markets managed modest gains by the close of a subdued trading session on Monday, with no significant corporate or economic catalysts driving movements.

Read more
12 Feb 2024 12:04

LONDON MARKET MIDDAY: FTSE 100 underperforms as European peers rise

(Alliance News) - London's FTSE 100 underwhelmed on Monday, with some of its largest constituents pulling it lower, while indices in Europe were on the up on favourable comments on interest rate cuts by a European Central Bank official.

Read more
12 Feb 2024 08:35

TOP NEWS: GSK's bepirovirsen receives US FDA fast track designation

(Alliance News) - GSK PLC on Monday said that the US health watchdog granted fast track designation for its bepirovirsen treatment for chronic hepatitis B.

Read more
12 Feb 2024 07:50

LONDON BRIEFING: Tritax Big Box, UK Commercial Property agree merger

(Alliance News) - Equities in London are called to open higher on Monday, with inflation readings from the US and UK on the horizon, which could drive equity market sentiment during the remainder of the week.

Read more
12 Feb 2024 07:21

GSK gets FDA fast track for chronic hepatitis B treatment

(Sharecast News) - GSK announced on Monday that bepirovirsen, an investigational antisense oligonucleotide (ASO) aimed at treating chronic hepatitis B (CHB), had been granted fast track designation by the US Food and Drug Administration (FDA).

Read more
9 Feb 2024 09:15

LONDON BROKER RATINGS: Deutsche Bank cuts AstraZeneca to 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
6 Feb 2024 08:51

TOP NEWS: GSK reports positive news on trio of high profile products

(Alliance News) - GSK PLC on Tuesday delivered a triple dose of positive updates on some of its leading products, Arexvy, Shingrix and Blencep.

Read more
6 Feb 2024 07:47

LONDON BRIEFING: BP promises buyback despite drop in profit

(Alliance News) - Stocks in London are called to open higher, ahead of a slew of construction purchasing managers' index readings from the eurozone, the UK and Germany.

Read more
6 Feb 2024 07:23

GSK reports positive myeloma trial results, progresses vaccine applications

(Sharecast News) - GSK reported progress in its trial of a myeloma treatment on Tuesday, as well as regulatory progress around its shingles vaccine in China and its RSV vaccine in the United States.

Read more
1 Feb 2024 09:27

TOP NEWS: GSK maintains "vigorous" defence after settling Zantac case

(Alliance News) - GSK PLC on Thursday insisted upon its scientific integrity, after reaching another settlement in ongoing litigation over alleged links between its heartburn drug and cancer.

Read more
1 Feb 2024 09:11

GSK settles Zantac case in California without admitting liability

(Sharecast News) - 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.

Read more
1 Feb 2024 09:03

LONDON BROKER RATINGS: Barclays cuts Next; JPMorgan raises easyJet

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Read more
1 Feb 2024 07:42

LONDON BRIEFING: Shell profit falls; announces USD3.5 billion buyback

(Alliance News) - Stocks in London are set to follow New York into the red, after the US Federal Reserve quashed hopes of a March cut to interest rates and ahead of the Bank of England interest rate decision.

Read more
31 Jan 2024 17:05

LONDON MARKET CLOSE: Stocks mixed hours before expected US Fed hold

(Alliance News) - Stock prices in London closed mixed on Wednesday in a trade-thinned day ahead of the US Federal Reserve interest rate decision this evening.

Read more
31 Jan 2024 15:49

London close: Stocks mixed ahead of US Fed, BoE decisions

(Sharecast News) - London's financial markets finished with mixed performance on Wednesday, with investors closing their wallets ahead of rate announcements from both the US Federal Reserve and the Bank of England.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.