A Delaware judge has ruled that GSK, Pfizer, and Sanofi must face approximately 75,000 lawsuits filed in state court regarding their former heartburn treatment, Zantac. The lawsuits allege that Zantac causes cancer, and the judge has allowed expert witnesses to testify in court. Following the ruling, GSK's shares tumbled by as much as 10% on Monday, marking their steepest decline in two years. GSK has announced plans to appeal the decision. The ruling has drawn significant media attention, and analysts suggest that GSK's potential liability could be substantial.
GSK's stock fell as much as 10% this morning in London on news it must face almost 70,000 lawsuits over whether the heartburn drug Zantac causes cancer https://t.co/kLOXPZuaJc
Pharma giant GSK plunges 9% after U.S. court allows scientific testimony in Zantac lawsuits https://t.co/Z9KyLJBWDo
$GSK (-7.9% pre) GSK stock plunges after 75,000 Zantac cases allowed to move forward - SA https://t.co/QsiDiRhLIz
Zantac-Rout Returns, Sends GSK Shares Tumbling After Delaware Judge's Ruling On Jury Trials https://t.co/vweCp1BmXM
Shares of GSK dropped more than 9% on Monday, after a Delaware judge allowed more than 70,000 lawsuits alleging its discontinued heartburn drug Zantac caused cancer, to go forward, in a blow for the British drugmaker. https://t.co/nxrNfd4GUL https://t.co/nxrNfd4GUL
$GSK That’s a lot of lawsuits https://t.co/ApR2Rp6Aue https://t.co/nFlZwB04yW
$GSK shares dropped sharply after a Delaware judge allowed over 70,000 lawsuits alleging its discontinued heartburn drug Zantac caused cancer to proceed. GSK disagreed with the ruling and plans to appeal immediately. Analysts believes GSK’s potential liability could exceed… https://t.co/OLERBXdh2A
$GSK shares dropped sharply after a Delaware judge allowed over 70,000 lawsuits alleging its discontinued heartburn drug Zantac caused cancer to proceed. GSK disagreed with the ruling and plans to appeal immediately. Analysts suggest GSK’s potential liability could exceed the… https://t.co/GNhTc6GekL
A Delaware judge has allowed more than 70,000 lawsuits over discontinued heartburn drug Zantac to go forward, ruling that expert witnesses can testify in court that the drug may cause cancer https://t.co/ZakJcgKLE3 @brenpiers https://t.co/GYy98w2J68
GSK shares tumble by most in two years after Zantac ruling https://t.co/E4FbUmFvv4
GSK shares slump in the wake of a court ruling that the UK drugmaker, alongside others including Sanofi, must face trials over whether the former heartburn treatment Zantac causes cancer https://t.co/30iiBUrgdZ
Shares in British drugmaker GSK dropped more than 9% on Monday after a Delaware judge allowed more than 70,000 lawsuits over discontinued heartburn drug Zantac to go forward. https://t.co/KUCvZRhwBs https://t.co/KUCvZRhwBs
GSK shares tumble 9% after 70,000 Zantac lawsuits allowed to move forward https://t.co/aX8MbDwPpM https://t.co/2K6gx7QqxN
GSK shares tumble 10% after Zantac ruling https://t.co/elhnhpFBYN
$GSK down as much as 10% as they'll have to face a trial by jury re Zantac. This is problematic due to the usual bad press of big pharma. Will draw much attention from media for sure.
$GSK - not good Judge rules all 73k Zantac cases in Delaware can proceed to trial, dismissing GSK's motions to exclude plaintiffs' witnesses
GSK set to face jury trials over heartburn drug Zantac https://t.co/00N2AhQEUO
GSK and Pfizer must face about 75,000 Zantac lawsuits filed in state court in Delaware after a judge found the evidence backing up claims that the drugmakers’ former heartburn treatment causes cancer can be heard by juries https://t.co/XFUCMRGVjJ