GSK Stock Jumps as UK Drug Giant Resolves Most US Zantac Lawsuits
GSK (GSK) shares in London jumped 5% Thursday after the British drug giant said it has resolved most of the U.S. lawsuits it faced around claims that its discontinued heartburn medicine Zantac causes cancer.
GSK jumps 6% after $2.2B Zantac settlement: why analysts see more upside
GlaxoSmithKline (GSK) saw its shares jump more than 6% after the pharmaceutical giant announced a settlement of up to $2.2 billion (€2.01bn) to resolve tens of thousands of lawsuits in the US related to its discontinued heartburn medication, Zantac. The lawsuits alleged that the drug, which was pulled from the market, caused cancer.
GSK settles vast majority of Zantac claims for $2.2 billion
The British drugmaker reached a $2.2 billion settlement to resolve around 80,000 lawsuits over claims its Zantac heartburn remedy causes cancer
GSK settles US Zantac lawsuit for $2.2bn
GSK PLC (LSE:GSK, NYSE:GSK) has agreed to pay up to $2.2 billion to settle around 80,000 US lawsuits concerning its heartburn medication Zantac, generically known as ranitidine. The plaintiffs alleged the drug caused cancer, although GSK maintains there is no evidence linking Zantac to an increased cancer risk and has not admitted liability.
GSK shares seen opening higher after settlement of 80,000 Zantac lawsuits
Shares of GSK are seen rising 5% according to pre-market indications on Thursday after the British drugmaker agreed to pay up to $2.2 billion to settle lawsuits that claimed its discontinued heartburn drug Zantac caused cancer.
Why GSK Stock Rocketed Nearly 6% Skyward on Wednesday
In a swarm of lawsuits, the company stood accused of selling a potentially cancer-causing medication.
GSK strikes $2.2bn deal to resolve legal cases in US over heartburn treatment Zantac
British drugmaker agrees payment to resolve 80,000 cases alleging cancers were linked to drug known generically as ranitidine
GlaxoSmithKline Reaches $2.2 Billion Settlement in Zantac Lawsuits
GlaxoSmithKline (GSK, Financial) has agreed to a substantial settlement in connection with lawsuits related to its Zantac product in U.S. state courts. The company announced that it reached settlements with 10 plaintiff firms, which represent a significant 93% of the cases filed against the pharmaceutical company regarding Zantac.
GSK reaches up to $2.2 billion settlement in Zantac US state court cases
GSK said on Wednesday it had reached agreements with ten plaintiff firms, representing 93% of U.S. state court Zantac product liability cases pending against the drugmaker, for up to $2.2 billion.
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GSK Reports Sustained Efficacy of RSV Vaccine Amidst Competition from Pfizer and Moderna
GSK (GSK, Financial) announced that its respiratory syncytial virus (RSV) vaccine has shown protective benefits for three quarters following vaccination. The cumulative efficacy of the vaccine, adjusted for seasonal factors, stands at 62.9% for the elderly.
RSV Vaccine Demand Drops Sharply in the US, Impacting GSK's Sales
Recent data indicates a significant drop in the sales of the respiratory syncytial virus (RSV) vaccine in the United States. Major vaccine manufacturers, including GlaxoSmithKline (GSK, Financial), Moderna, and Pfizer, face decreasing demand as independent pharmacists report a two-thirds decline in RSV vaccine uptake compared to the previous year.
