LONDON (ShareCast) - (Sharecast News) - GSK announced on Thursday that it had reached a confidential settlement to effectively resolve the legal case over Zantac filed in a California state court.
The FTSE 100 pharmaceutical giant firm said a trial was originally scheduled for 20 February, but the case would now be dismissed.

GSK said it was committed to avoiding prolonged litigation-related distractions.

It noted that it did not admit any liability as part of the settlement, adding that it remained dedicated to defending itself against other Zantac-related cases.

Zantac, or ranitidine, was once a blockbuster heartburn medication for GSK, but was withdrawn from sale worldwide in 2020 after a probable carcinogen was discovered in products from a number of manufacturers.

At 1034 GMT, shares in GSK were up 0.63% at 1,577.8p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE