(Sharecast News) - GSK announced a confidential settlement with Boyd/Steenvoord, effectively resolving a case filed in California state court over its discontinued heartburn drug Zantac.
The FTSE 100 pharmaceuticals giant said the case, originally scheduled for trial on 2 April, would now be dismissed.
It said it did not acknowledge any liability in this settlement, adding that it was committed to defending itself in all other Zantac cases.
Zantac was removed from shelves in April 2020 after the detection of an impurity called N-nitrosodimethylamine (NDMA), classified as a probable human carcinogen by the International Agency for Research on Cancer (IARC).
NDMA can form in certain drug products, including ranitidine-based medications like Zantac, under certain storage conditions or when exposed to high temperatures.
At 0812 GMT, shares in GSK were up 0.55% at 1,679p.
Reporting by Josh White for Sharecast.com.
Glaxosmithkline (GSK)
