GSK Resolves Majority Of US Zantac Cases With $2.2B Settlement Deal, Stock Surges

On Wednesday, GSK plc (NYSE:GSK) reached agreements with ten plaintiff firms representing approximately 80,000 Zantac product liability cases in the U.S. state courts.

These cases account for 93% of the Zantac (ranitidine) lawsuits currently pending against the company.

Under these agreements, GSK will pay up to $2.2 billion to resolve the claims, contingent upon eligibility and participation criteria.

In July, a Delaware judge dismissed a request from GSK and other pharmaceutical companies to appeal a ruling that allows over 70,000 lawsuits alleging the heartburn drug Zantac