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GSK Agrees to $2.2 Billion Settlement Covering 93% of U.S. Zantac Lawsuits
Oct 9, 2024, 05:33 PM
GSK has agreed to pay up to $2.2 billion to resolve approximately 80,000 U.S. state court cases related to its heartburn medication Zantac. The settlements encompass agreements with ten plaintiff firms, representing 93% of the product liability cases pending against the company, and are expected to be finalized by the first half of 2025. GSK will record a charge of £1.8 billion in its Q3 2024 results to account for the settlements. Additionally, the company has resolved a Qui Tam complaint for $70 million. Despite the settlements, GSK maintains that there is no consistent evidence that ranitidine, the active ingredient in Zantac, increases the risk of cancer.
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