Haleon Says It Hasn't Been Notified About Litigation on Zantac Drug -- Update
August 12 2022 - 3:30AM
Dow Jones News
By Sabela Ojea
Haleon PLC said Friday that it hasn't been notified about
potential negative implications of U.S. lawsuits over discontinued
heartburn drug Zantac.
The consumer-healthcare business, which was spun out of GSK PLC
and is partly owned by Pfizer Inc., said that it isn't a party to
any of the Zantac claims and that it never marketed the drug in any
form in the U.S.
GSK PLC added that the U.S. Food and Drug Administration and
European Medicines Agency have concluded there is no evidence of a
causal association between ranitidine therapy and the development
of cancer.
"The overwhelming weight of the scientific evidence supports the
conclusion that there is no increased cancer risk associated with
the use of ranitidine. Suggestions to the contrary are therefore
inconsistent with the science, and GSK will vigorously defend
itself against all meritless claims alleging otherwise," GSK
said.
Shares of Haleon and GSK, as well as Sanofi, which owns rights
to over-the-counter Zantac in the U.S, have been falling over the
past couple of days after a number of analysts notes that
highlighted the potential exposure the companies faced as part of
the litigation.
GSK shares have fallen 15% since Tuesday to close at 1400.0
pence on Thursday; Haleon shares have fallen 13% to close at 265.8
pence and Sanofi shares have fallen 11% to close at EUR84.75.
The first trial over Zantac is set to start on Aug. 22.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
August 12, 2022 03:15 ET (07:15 GMT)
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