London: British pharmaceutical group GSK on Friday welcomed victory in drawn out US litigation regarding its Zantac drug for heartburn that allegedly caused cancer.
The over-the-counter treatment, known also by its non-commercial name ranitidine, was manufactured by several rivals including the French group Sanofi and US drugmaker Pfizer before it was withdrawn in 2019.
GSK said in a statement Friday that Florida State Court had made a ruling “consistent with scientific consensus that there is no consistent or reliable evidence that ranitidine increases the risk of any cancer”.
Responding to Thursday’s decision, GSK said it “welcomes” the outcome and “continues to defend itself vigorously, including against all remaining claims in other jurisdictions”.
Delaware State Court in June paved the way for legal action by tens of thousands of patients — a decision GSK is appealing.
GSK shares were flat in morning deals Friday on London’s top-tier FTSE 100 index, which was down 0.3 percent overall.
Russ Mould, investment director at AJ Bell, said “the ongoing legal battle over links between Zantac and cancer remains an issue for the business thanks to the sheer volume of cases out there”.
“GSK saw a pretty similar dismissal in late 2022 which it might have hoped would mark the beginning of the end to the saga, yet here we are more than a year and a half later.”
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