AstraZeneca PLC (LSE:AZN) said it has settled a suite of US legal claims over heartburn treatments Nexium and Prilosec for US$425 million.
The UK pharma said the agreements effectively resolve the product liability claims currently pending in the Distinct Court in New Jersey and Superior Courts in Delaware and New Jersey.
AstraZeneca added it continues to believe these claims are "without merit and admits no wrongdoing in the settlement agreement".
“These settlements avoid continued costly litigation and allow the company to move forward," it added.
A single case remains pending in the US District Court for the Middle District of Louisiana scheduled for trial on 15 April 2024.
Nexium and Prilosec are among a group of drugs known as proton pump inhibitors that have been linked to kidney failure, liver damage and bone problems.
The plaintiffs claim these potential side effects were known to the drug companies that manufactured them.