Pfizer Settles Zantac Lawsuits, Agrees To $250M Settlement To Reduce Liability: Report
Portfolio Pulse from Benzinga Neuro
Pfizer Inc. (NYSE:PFE) has agreed to pay up to $250 million to settle thousands of lawsuits related to its discontinued heartburn drug Zantac. The settlement aims to reduce Pfizer's potential liability and reassure investors, despite the company's stance that Zantac did not cause cancer when used as directed.
May 16, 2024 | 7:04 am
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Pfizer has agreed to a settlement of up to $250 million to resolve lawsuits related to its discontinued drug Zantac. This move is intended to reduce potential liability and reassure investors, although the company maintains that Zantac did not cause cancer when used as directed.
The settlement is a significant financial move to mitigate potential liabilities and avoid prolonged litigation, which could positively impact investor sentiment and stabilize the stock price in the short term.
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