GSK/Sanofi: Zantac tussle may be long and painful, precedents show | opinion
email rounding up the latestFor years, doctors said stress caused ulcers and heartburn. Now the treatment of these afflictions is causing anxiety for investors. US litigants blame Zantac for their cancer. The legal battle will be rough.
It is unclear where any liabilities might sit. Rights to the over-the-counter version of Zantac have been transferred repeatedly. Even companies that never marketed the drug in the US — and are not party to the claims — could be on the hook. Haleon might be required to indemnify GSK or Pfizer. GSK has potential exposure to claims regarding prescription Zantac. Morgan Stanley estimates that GSK could account for 30-60 per cent of any liability. The UK drugmaker says the overwhelming weight of the scientific evidence suggests no increased cancer risk from the drug.
Bayer pointed to studies suggesting that glyphosate — brand name Roundup — does not cause cancer. But the €10bn wiped off Bayer’s share price four years ago was more than justified. The company agreed to settle what it hoped would be the bulk of claims for more than $10bn in 2020. It has so far set aside $16bn.
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