GSK reaches $2.2bn heartburn medication Zantac settlement in US
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GSK has reached a $2.2bn settlement to resolve the vast majority of cases linked to its heartburn medicine Zantac, in a move that will help assuage legal concerns overhanging the UK drugmaker.
The company said on Wednesday it had reached agreements with 10 plaintiff firms representing around 80,000 people who had brought product liability cases against it in US state courts. The settlement covers 93 per cent of all claimants.
GSK did not accept any liability.
The settlement is below the range of $2.5bn-$4bn estimated by some analysts for the company’s litigation exposure earlier this year.
In 2019, a laboratory in Connecticut — Valisure — alleged that it had found high levels of a carcinogen in ranitidine, the active ingredient of Zantac.
Other drugmakers that also marketed the drug, including Pfizer and Sanofi, have already reached settlements. GSK also reached a separate $70mn settlement with Valisure.
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