roughly 50,000 claims in federal court. GSK, Haleon and Sanofi’s combined worth rose by $14 billion on Wednesday morning.
That will help free the drugmakers’ hands for a possible cash splurge. Morgan Stanley analysts had estimated the overall Zantac litigation hit could have been as high as $45 billion. The looming danger made it difficult for drugmakers to make a case for ratcheting up research and development spending, or binge on bombed-out biotech stocks with some M&A.
to pay as much as $10.9 billion to settle U.S. lawsuits claiming that its widely used weedkiller Roundup caused cancer. The Zantac judge has just proved that courts can be a help as well as a hindrance.Drugmakers GSK, Pfizer, Haleon, Sanofi and Boehringer Ingelheim on Dec. 6 were spared thousands of U.S. lawsuits claiming that the heartburn treatment Zantac caused cancer, after a judge found the claims were not backed by sound science.
Breakingviews aimeedonnellan I bet big pharma would be more careful about drugs they introduce if every time someone dies from one of their meds, one of them died as well.
Breakingviews aimeedonnellan Reuters advocates for big Pharma and the clot shots.
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