GSK plc Sponsored ADR (GSK)
GSK: The Worst Is Finally Over (Rating Upgrade)
GSK's share price surged 6% yesterday in the biggest rise seen since December 2022, after the company settled 93% of cases related to the Zantac litigation. The settlement will be reflected in Q3 2024 results, with a GBP 1.8 billion charge expected to impact the earnings per share by GBP 0.44. Despite the significant charge, GSK's forward non-GAAP P/E remains reasonable at 12.4x compared to peers and the 2025 figure looks even better.
GSK Zantac settlement a 'clear win', say brokers
GSK PLC (LSE:GSK, NYSE:GSK) US$2.2 billion settlement for 93% of Zantac litigation cases is almost a best-case scenario short of no payment, according to US broker Jefferies. The broker had pencilled liability costs of between US$2-3.5 billion for the liability, adding the deal is at the bottom of its expectations.
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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