The first of the legal cases against companies that sold the heartburn drug Zantac ended before it started after the plaintiff dropped his case.
Joseph Bayer, who brought the action against GSK PLC (LSE:GSK, NYSE:GSK) and Boehringer Ingelheim, was unable to proceed because of health reasons, said Reuters citing his attorney.
He still has a year in which he can refile the suit, which alleges that Bayer developed oesophageal cancer from taking the over-the-counter drug.
In a statement on Wednesday, the UK pharma giant said: “GSK welcomes this outcome and believes the dismissal of Mr Bayer's case is the correct result.
“The overwhelming weight of the scientific evidence supports the conclusion that there is no increased cancer risk associated with the use of ranitidine.
“GSK will continue to vigorously defend itself against all claims alleging otherwise.”
A group of drug companies that sold Zantac, including GSK and its consumer healthcare spin-off Haleon, face potentially thousands of lawsuits linked to the product and its safety.
One article put the potential cost at US$40bn. Certainly, the market took fright at the prospect when it was first revealed last week with double digital percentage share price drops for both GSK and Haleon.
* In a separate announcement, GSK told investors the US Food & Drug Administration had accepted a new drug application for momelotinib, a treatment of myelofibrosis, a type of bone marrow cancer.