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Share Price: 89.88
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First trial over Zantac cancer claims set to begin in Chicago

Tue, 30th Apr 2024 22:39

April 30 (Reuters) - The first trial over claims that blockbuster heartburn drug Zantac, once sold by GSK and other companies, causes cancer is set to begin this week in Chicago.

Jury selection began on Tuesday before Judge Daniel Trevino of the Circuit Court of Cook County, with lawyers' opening statements expected to follow. GSK and Boehringer Ingelheim are the only defendants in the trial, after other companies settled.

The plaintiff, 89-year-old Illinois resident Angela Valadez, alleges in her lawsuit that she developed colorectal cancer as a result of taking over-the-counter Zantac and generic versions of it from 1995 to 2014. Like other plaintiffs suing over the drug, she says its active ingredient, ranitidine, as it ages turns into a cancer-causing substance called NDMA.

"We're happy that she's getting her day in court," said Ashley Keller, a lawyer for Valadez.

Her case is one of tens of thousands against GSK, Boehringer Ingelheim and other companies including Pfizer and Sanofi, which have worried investors in recent years. It will offer the first test of whether the cancer claims will persuade a jury, since all cases previously set for trial settled or were dropped.

The drugmakers have maintained that Zantac does not cause cancer or contain significant amounts of NDMA under normal conditions.

"We are confident in our position based on the facts and science and look forward to presenting our case at trial," GSK said in a statement. Boehringer Ingelheim did not immediately respond to a request for comment.

First approved in 1983, Zantac became the world's best selling medicine in 1988 and one of the first-ever drugs to top $1 billion in annual sales. It was originally marketed by a forerunner of GSK, which faces the largest potential liability, and later sold successively to the other companies.

In 2020, the U.S. Food and Drug Administration asked drugmakers to pull Zantac and its generic versions off the market after NDMA was found in samples of the drug. Thousands of lawsuits began piling up in federal and state courts.

The defendants notched a significant win in 2022, when a judge dismissed about 50,000 claims centralized in federal court in Florida. That judge concluded that the opinions of the plaintiffs' expert witnesses that Zantac can cause cancer were not supported by sound science.

Some, but not all, of the claimants in those cases are appealing the ruling to the Atlanta, Georgia-based 11th U.S. Circuit Court of Appeals.

Another judge is currently weighing the fate of about 72,000 cases in Delaware state court, where the drugmakers similarly argue that plaintiffs' expert testimony should be kept out.

Some other cases were previously settled, including several individual cases just before trial, and about 4,000 state court lawsuits outside of Delaware against Sanofi. Pfizer and Boehringer Ingelheim have not announced any large-scale settlements.

A new version of Zantac now on the market has a different active ingredient and does not contain ranitidine. (Reporting By Brendan Pierson in New York; Editing by Alexia Garamfalvi and Bill Berkrot)

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12 Aug 2022 09:01

GSK, Sanofi and Haleon shares stabilise after Zantac litigation slump

LONDON, Aug 12 (Reuters) - Shares in GSK, Sanofi <SASY.PA and Haleon began to stabilise on Friday after the companies said that nothing material had changed regarding U.S. litigation focused on heartburn drug Zantac.

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11 Aug 2022 22:15

GSK, Sanofi and Haleon shares slump on Zantac litigation concerns

LONDON, Aug 11 (Reuters) - Shares in GSK, Sanofi and Haleon fell sharply on Thursday, following declines earlier this week, amid growing investor concerns about U.S. litigation focused on a heartburn drug that contained a probable carcinogen.

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11 Aug 2022 18:45

GSK, Sanofi and Haleon shares slump on Zantac litigation concerns

LONDON, Aug 11 (Reuters) - Shares in GSK, Sanofi and Haleon fell sharply on Thursday, following declines earlier this week, amid growing investor concerns about U.S. litigation focused on a heartburn drug that contained a probable carcinogen.

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11 Aug 2022 17:29

European shares tick higher; Aegon shines on forecast raise

Aug 11 (Reuters) - European shares edged higher on Thursday after a strong rally in the previous session on signs of U.S. inflation cooling, while Aegon climbed after the Dutch insurer raised its full-year forecast.

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11 Aug 2022 12:23

Haleon not a party to U.S. litigation focused on Zantac - spokesperson

LONDON, Aug 11 (Reuters) - Haleon - GSK's recently spun off consumer health unit - is not a party to the U.S. litigation focused on the heartburn medicine Zantac, a spokesperson told Reuters on Thursday.

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10 Aug 2022 17:02

European bourses hold on to U.S. CPI boost

Aug 10 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

EUROPEAN BOURSES HOLD ON TO U.S. CPI BOOST (1150 EDT/1550 GMT)

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9 Aug 2022 16:59

European shares slip with U.S. inflation data in focus

Aug 9 (Reuters) - European shares dipped on Tuesday as investors cautiously waited for key U.S. inflation data later in the week for hints on the Federal Reserve's next move on interest rate increases.

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28 Jul 2022 07:20

Sanofi lifts profit outlook as Dupixent sales surge 43%

July 28 (Reuters) - French healthcare group Sanofi lifted its full-year earnings outlook on continued forecast-beating sales growth for its bestselling drug Dupixent.

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19 Jul 2022 13:00

As COVID patent war rages on, pharma group seeks fairer future access

LONDON, July 19 (Reuters) - An alliance of companies has pledged to ensure equitable access to vaccines and treatments for pandemics, as the friction around intellectual property rights for COVID-19 interventions between the pharmaceutical industry and developing nations endures.

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18 Jul 2022 12:19

GSK's consumer arm Haleon debuts with lacklustre valuation

LONDON, July 18 (Reuters) - British drugmaker GSK spun off its consumer health business on Monday in the biggest listing in Europe for more than a decade, but the unit's market value of 30.5 billion pounds fell well short of the price rival Unilever offered to pay earlier this year.

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7 Jul 2022 15:25

EU drugs regulator open to COVID boosters that target older Omicron offshoots

LONDON, July 7 (Reuters) - The European Medicines Agency (EMA) is open to using next generation COVID-19 vaccines that target older offshoots of the Omicron variant this fall, an official said on Thursday, amid a rise in cases due to new Omicron subvariants.

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24 Jun 2022 17:19

European shares mark strong end to nervous week

June 24 (Reuters) - European stocks jumped 2.6% on Friday, pushing them into positive territory for the week as investors started to scale back central bank tightening bets, spurring inflows into risky assets.

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24 Jun 2022 17:08

Defensive stocks lead rebound in FTSE 100

June 24 (Reuters) - UK's FTSE 100 rose on Friday, lifted by defensive stocks at the end of a choppy week that saw investor anxiety over hawkish central banks, weak economic readings and heightened risks of a global recession.

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24 Jun 2022 09:51

Sanofi, GSK variant-specific COVID shot found effective against Omicron

PARIS/LONDON, June 24 (Reuters) - Late-stage data on an experimental COVID-19 vaccine from Sanofi and GSK has showed the shot confers protection against the Omicron variant of the virus, the companies said on Friday.

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13 Jun 2022 09:09

Sanofi says next-gen COVID booster shot has potential against main variants

PARIS, June 13 (Reuters) - French drugmaker Sanofi said on Monday an upgraded version of the COVID-19 vaccine candidate it is developing with GSK showed potential in two trials to protect against the virus's main variants of concern, including the Omicron BA.1 and BA.2 strains, when used as a booster shot.

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