(Alliance News) - GSK PLC on Thursday emphasised its commitment to science, as it reached another settlement in ongoing litigation over alleged links between its heartburn drug and cancer.
The Brentford, UK-based pharmaceutical company has settled with the claimants Boyd/Steenvoord. The case, which was filed in California state court and was due to begin trial on April 2, will now be dismissed.
The claimant's case related to Zantac, 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 ranitidine, otherwise known as Zantac.
Since being taken off the market, the drug has remained a thorn in the side of GSK. Boyd/Steenvoord are just some of many claimants over the last year to bring a lawsuit alleging links between Zantac and cancer.
Throughout, GSK has maintained that it does not admit "any liability" in this settlement, or any others. On Thursday, the firm explained that the settlement instead reflected a desire "to avoid the distraction related to protracted litigation".
GSK "will continue to vigorously defend itself based on the facts and the science in all other Zantac cases", the pharmaceutical firm added.
GSK shares were trading 0.8% higher at 1,683.20 pence each in London on Thursday morning.
By Holly Beveridge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Glaxosmithkline (GSK)
