GSK falls 12% on worries over Zantac litigation

Thursday, 11. August 2022 14:06

Shares of GlaxoSmithKline (GSK) fell as much as 12% Thursday on growing concern over litigation concerning the heartburn drug Zantac, the most significant drop since 1998. Along with GSK, shares of drugmakers Sanofi and Haleon fell as much as 9% and 6% during the session.

Zantac is an antacid that has sparked lawsuits for damages in the United States, alleging that it causes cancer. Firms such as Sanofi and GSK are accused of failing to provide adequate warnings to consumers. The first trial is scheduled to begin on August 22.

After reaching the session low, GSK shares were down 8.36% at 1:45 pm CET to sell for £1,428.20.

Related Links: GlaxoSmithKline PLCSanofi S.A.
Baha Breaking News (BBN) / JG