Shares in pharmaceutical companies Sanofi SA and GSK PLC jumped after a U.S. judge dismissed a series of lawsuits alleging a heartburn treatment they had marketed could cause cancer
The lawsuits, which numbered in the tens of thousands, alleged that the drug, called Zantac, could cause cancer. The judge concluded on Tuesday that there was no scientific evidence to support the claim that Zantac’s active substance, called ranitidine, was carcinogenic.Sanofi, GSK, but also Pfizer Inc. and Haleon, GSK’s former consumer-health division, could all have faced liabilities from the litigation. Sanofi and GSK recalled Zantac in 2019 after the U.S.
Tuesday’s decision could be appealed. Shares in the drugmakers will likely continue to suffer from volatility until the issue is fully resolved, analysts at Shore Capital said in a note.Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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