Zantac’s Developer Settles Lawsuits Claiming Cancer Link

Published On Oct 9, 2024, 8:05 PM

GSK has agreed to pay up to $2.2 billion to settle lawsuits from consumers claiming that they developed cancer from taking Zantac, a heartburn drug that has been discontinued since 2017. The settlement is meant to resolve claims from approximately 80,000 plaintiffs in the U.S., although GSK did not admit liability. The concern over Zantac arose after the FDA found trace levels of a potentially carcinogenic contaminant, leading to its removal from the market. The company will also pay $70 million to settle a whistle-blower complaint about the alleged knowledge of cancer risks associated with the drug.

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The settlement may have a mixed impact on GSK's stock. While it alleviates some legal uncertainty, the large payout could pressure the company's finances in the short term. However, the absence of liability admission and ongoing market potential for other products might provide some investor confidence.

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