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One Suit Down Out Of 3,000 Zantac Related Lawsuits, Says GSK

·1 min read
  • GSK plc’s (NYSE: GSK) first scheduled Zantac related-cancer trial has been dismissed by the plaintiff, noting that it did not settle the claim and has not paid anything in exchange for the voluntary dismissal.

  • The company has approximately 3,000 lawsuits against it.

  • A hearing for GSK’s multi-district Zantac-related cancer lawsuit will start in September in the Southern District of Florida, with the company looking to exclude plaintiffs’ causation experts.

  • “The overwhelming weight of the scientific evidence supports the conclusion that there is no increased cancer risk associated with the use of ranitidine,” GSK said, noting that it will continue to “vigorously defend itself against all claims alleging otherwise.”

  • Related: Recalled Heartburn Pill Zantac Sets Fire To Glaxo and Sanofi Shares As Billions In Market Value Goes Up In Smoke.

  • “Given the early stage of this litigation, it is not possible to quantify or reliably estimate what liability (if any) GSK or any other parties may have in this litigation. Further announcements will be made as there are significant developments in the litigation,” the company said.

  • In the multi-district litigation in Florida, plaintiffs identified ten types of cancer they wished to pursue.

  • In November 2021 and January 2022, plaintiffs withdrew from consideration breast cancer and kidney cancer, as well as colorectal, prostate, and lung.

  • The cases will proceed with five types of cancer: bladder, esophageal, gastric, liver, and pancreatic, GSK said, even as plaintiffs in state courts continue to pursue claims based on types of cancers withdrawn from the MDL.

  • Price Action: GSK shares are down 2.35% at $34.43 during the premarket session on the last check Wednesday.

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