GSK PLC (LSE:GSK, NYSE:GSK) has reached a confidential settlement regarding a lawsuit in California, which accused its discontinued heartburn medication, Zantac, of causing cancer, thus avoiding a trial scheduled for 20 February.
In a statement, the UK pharma giant stated the case will be dismissed, emphasizing that this settlement does not imply any admission of liability.
This latest out-of-court deal is part of GSK's broader efforts to resolve litigation related to Zantac, following the suspension of the drug's sales in 2019 due to concerns over its active ingredient, ranitidine, forming a potentially cancer-causing chemical, NDMA, over time.
In October, its lawyers brokered four similar settlements in California.
According to Reuters, GSK faces roughly 79,000 Zantac-related lawsuits in the US, predominantly in Delaware. It reckons the costs associated with the issue are currently around US$5 billion.