Loading...
Market
How will Zantac settlements affect GSK's 2024 annual revenue?
2
Resolution / Starting Odds
Decrease by more than 10% • 25%
Decrease by 5% to 10% • 25%
Decrease by less than 5% • 25%
No significant change • 25%
GSK's 2024 annual financial report
Story
GSK to Pay Up to $2.2B to Settle 80,000 U.S. Zantac Contamination Cases
Oct 9, 2024, 05:05 PM
GlaxoSmithKline (GSK) announced that it has reached agreements to settle approximately 80,000 U.S. state court Zantac product liability cases, representing 93% of such cases, for up to $2.2 billion. The litigation concerns claims related to the contamination of its Zantac (ranitidine) reflux medication. The settlements, involving agreements with ten plaintiff firms, are expected to be finalized by the first half of 2025. GSK will record a charge of £1.8 billion ($2.3 billion) in its third-quarter 2024 results to cover the settlement costs. Additionally, the company resolved a Qui Tam complaint for $70 million. GSK's shares were briefly halted pending the news and have since resumed trading.
View original story
Similar markets
Stock price increases • 25%
Stock price decreases • 25%
Stock price remains stable • 25%
Insufficient data • 25%
Less than $2 billion • 25%
$2 billion to $2.5 billion • 25%
$2.5 billion to $3 billion • 25%
More than $3 billion • 25%
Less than 3 • 25%
3 to 5 • 25%
6 to 10 • 25%
More than 10 • 25%
GSK wins • 25%
Plaintiff wins • 25%
Case dismissed • 25%
Settlement reached • 25%
Resolved as planned • 25%
Resolved for more than $70 million • 25%
Resolved for less than $70 million • 25%
Not resolved • 25%