GSK opened a new tab and reached a confidential settlement on one more zantac lawsuit from California, which claimed that its heartburn medicine Zantac caused cancer. This is the latest of a string of settlements offered by GSK, the British drugmaker, to stop expensive litigation.
The case, scheduled to start trial on April 2nd and April 2nd, has been thrown out. GSK has not acknowledged any liability as part of this settlement with Boyd/Steenvoord, the company said on Thursday.
This comes after the similar Zantac settlements that were announced in June of this year, with some in California. GSK continues to face many lawsuits throughout state courts in California and Delaware within the U.S.
California is often regarded as a tougher legal system for multinational corporations since courts are reputed to be more accommodating to plaintiffs.
It was the U.S. Food and Drug Administration 2020 that took all brands with the name Zantac, as well as generic variants of this drug, from the market, which triggered several lawsuits.
The drug, which was approved nearly forty years ago, was ranked as the world’s top-selling medication in 1988 and was one of the first drugs to reach one billion dollars in annual sales.
Analysts had estimated the total settlement costs for GSK in the range of $5 billion. GSK hasn’t yet quantified the expenses of the settlements.
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