BUZZ-GSK, Sanofi: "Zantac has arrived" - Reuters News11 Aug 2022 09:32
BUZZ-GSK, Sanofi: "Zantac has arrived" - Reuters News
11-Aug-2022 07:45:37
** GSK, Sanofi and Haleon remain in spotlight after heavy drop in previous session on rumours fuelling concern over potential negative implication from lawsuits in the U.S. over Zantac, a drug that was withdrawn in 2019
** "Zantac has arrived," writes Deutsche Bank on GSK/Sanofi
** "We don't think the evidence points to this as another glyphosate, but it is very possible we may see a liability of some $bn magnitude incurred which, coupled with negative headlines from the slate of imminently pending cases... is likely to act as a short-term headwind (already has?)," it adds
** Credit Suisse sees Haleon's involvement in Zantac litigation as limited. It adds: "more than 2,000 cases have been filed in the US and the first trial begins on 22 August 2022"
** One trader sees shares in GSK, Sanofi and Haleon rebounding. GSK up 1.4%, Sanofi up 0.9%, Haleon down 2% on Tradegate
(Reporting by Danilo Masoni)
(( Danilo.Masoni@TR.com ))