GSK plc (NYSE: GSK) has reached a confidential settlement with James Goetz, and the case he filed in California state court, set to begin trial on July 24, 2023, will be dismissed.
The U.S. citizen alleged the company's discontinued heartburn drug Zantac caused cancer.
Zantac approved in 1983, achieved significant sales but faced sales halts due to concerns about its active ingredient, ranitidine.
The presence of NDMA, a potential cancer-causing chemical, led to the withdrawal of Zantac by the FDA in 2020.
Last August, the plaintiff dismissed GSK's first scheduled Zantac related-cancer trial, noting that it did not settle the claim and has not paid anything in exchange for the voluntary dismissal.
The company has approximately 3,000 lawsuits against it. In March, a California judge denied GSK's attempt to exclude expert testimony linking Zantac to cancer.
Tuesday, Sanofi SA (NASDAQ: SNY) announced that the tribunal dismissed Boehringer Ingelheim's indemnification claim against Sanofi in an International Chamber of Commerce dispute in cancer lawsuits linked to heartburn drug Zantac (ranitidine) in the U.S.
The tribunal also confirmed that Sanofi should not be liable to indemnify Boehringer Ingelheim for any potential losses concerning the ongoing Zantac litigation in the U.S.
Price Action: GSK shares are up 5.71% at $36.75 during the premarket session on the last check Friday.