Earlier this week, 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.
Emma Walmsley, the CEO of GSK, may finally see relief from a major headache caused by legal cases surrounding the now-discontinued heartburn drug Zantac.
The update has reignited investor confidence. Financial Times highlighted that Deutsche Bank Research noted that this resolution makes GSK “investable again.”
The report further noted that legal issues have weighed heavily on GSK’s market value, particularly after a Morgan Stanley note in August 2022 ...
