GSK plc (LSE/NYSE: GSK), a leading global pharmaceutical company, has reached a confidential settlement in a Zantac (ranitidine) related prostate cancer lawsuit filed by Mr. Isaac Dixon in Illinois State Court. Announced today, the settlement does not involve an admission of liability by GSK. Following the agreement, the case will be dismissed.
The litigation centered around the claim that ranitidine, the active ingredient in Zantac, was responsible for Mr. Dixon's cancer. However, GSK has referenced scientific consensus from 16 epidemiological studies since 2019, which suggest that there is no reliable evidence linking ranitidine to an increased risk of cancer.
GSK has stated its intention to continue to defend itself vigorously in the ongoing litigation related to ranitidine, acting in the best interest of the company and its shareholders.
Zantac was once a widely used medication for heartburn and stomach ulcers before concerns about potential carcinogens led to a market recall. The legal developments around ranitidine have been closely watched by investors and the pharmaceutical industry, given the potential implications for GSK and other manufacturers.
This news is based on a statement from GSK as part of a regulatory filing with the Securities and Exchange Commission.
In other recent news, GlaxoSmithKline (NYSE:GSK) has reported notable developments. GSK's investigational biologic, depemokimab, demonstrated a significant reduction in severe asthma exacerbations in its SWIFT-1 and SWIFT-2 phase III clinical trials.
However, the company discontinued its phase III development plans for the herpes simplex virus (HSV) vaccine candidate, GSK3943104, due to it failing to meet the primary efficacy objective in the phase II trial. TD Cowen maintained a Hold rating on GSK, following positive Phase III results for depemokimab.
In regulatory news, GSK's respiratory syncytial virus (RSV) vaccine, Arexvy, received approval from the European Commission for use in adults aged 50-59 at increased risk of severe RSV infection. Additionally, GSK's Nucala gained approval in Japan for the treatment of chronic rhinosinusitis with nasal polyps. The company also reported a 13% increase in Q2 sales to £7.9 billion and a 21% rise in core operating profit to £2.5 billion.
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