GSK settles two Zantac cases in California

(Sharecast News) - GSK announced on Wednesday that it has reached confidential settlements in two lawsuits filed in California State Court related to its discontinued heartburn medication, 'Zantac', or ranitidine. The FTSE 100 pharmaceutical giant said the settlements resolved cases with John Russell, involving bladder cancer, and Annette Hughes, involving colorectal cancer.

It did not admit any liability in either settlement, with both cases now set to be dismissed as they pertain to the company.

The firm emphasised that since 2019, 16 epidemiological studies had examined the potential link between ranitidine and cancer.

According to GSK, the scientific consensus from the studies indicated there was no consistent or reliable evidence that ranitidine increases the risk of any type of cancer.

GSK affirmed that it would continue to defend itself against ongoing litigation concerning Zantac.

At 1402 BST, shares in GSK were down 0.43% at 1,602.5p.

Reporting by Josh White for Sharecast.com.