Sanofi Stock Is Trading Higher Today - Here's Why
Portfolio Pulse from Vandana Singh
Sanofi (SNY) announced that the tribunal dismissed Boehringer Ingelheim's indemnification claim against Sanofi in a dispute related to Zantac (ranitidine) cancer lawsuits in the US. The tribunal also confirmed that Sanofi shall not be liable to indemnify Boehringer Ingelheim for any potential losses concerning the ongoing Zantac litigation.
June 20, 2023 | 11:47 am
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Sanofi's stock is trading higher after the tribunal dismissed Boehringer Ingelheim's indemnification claim against Sanofi in a dispute related to Zantac cancer lawsuits in the US.
The tribunal's decision to dismiss Boehringer Ingelheim's indemnification claim against Sanofi and confirm that Sanofi shall not be liable for any potential losses in the ongoing Zantac litigation is positive news for Sanofi. This reduces potential financial liabilities for the company, which is likely to have a positive impact on its stock price in the short term.
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