AstraZeneca Settles Heartburn Treatment Lawsuit For One Of Biggest Selling Drug
Portfolio Pulse from Vandana Singh
AstraZeneca has agreed to pay $425 million to settle U.S. lawsuits related to heartburn and stomach acid treatments Nexium and Prilosec. The company continues to deny any wrongdoing. The settlement resolves product liability claims in New Jersey and Delaware. A case remains pending in Louisiana. AZN shares are up 0.27% in premarket trading.
October 03, 2023 | 12:18 pm
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NEUTRAL IMPACT
GSK is mentioned as one of the companies that sold Zantac, another heartburn treatment, at various times.
While GSK is mentioned in the context of selling Zantac, there is no direct impact from the AstraZeneca settlement on GSK.
CONFIDENCE 75
IMPORTANCE 25
RELEVANCE 25
NEUTRAL IMPACT
Pfizer is mentioned as one of the companies that sold Zantac, another heartburn treatment, at various times.
While Pfizer is mentioned in the context of selling Zantac, there is no direct impact from the AstraZeneca settlement on Pfizer.
CONFIDENCE 75
IMPORTANCE 25
RELEVANCE 25
NEUTRAL IMPACT
Sanofi is mentioned as one of the companies that sold Zantac, another heartburn treatment, at various times.
While Sanofi is mentioned in the context of selling Zantac, there is no direct impact from the AstraZeneca settlement on Sanofi.
CONFIDENCE 75
IMPORTANCE 25
RELEVANCE 25
POSITIVE IMPACT
AstraZeneca settles lawsuits related to Nexium and Prilosec for $425 million. Shares are up in premarket trading.
The settlement removes a significant legal risk for AstraZeneca, which could be seen as a positive by investors. This is reflected in the premarket trading where shares are up.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100