GSK Announces Zantac (Ranitidine) Litigation Settlements; To Resolve 93% Of U.S. Zantac Cases For Up To $2.2B; To Pay Up To $2.2B To Resolve U.S. State Court Cases; Separate Settlement Of qui tam Complaint For $70M; To Recognize £1.8 Billion Charge In Q3 Results For 2024; Settlement Costs To Be Funded Through Existing Resources
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GSK has announced settlements for Zantac litigation, resolving 93% of U.S. cases for up to $2.2 billion. Additionally, a separate $70 million settlement for a qui tam complaint has been agreed upon. GSK will recognize a £1.8 billion charge in Q3 2024 results, with settlement costs funded through existing resources.
October 09, 2024 | 4:53 pm
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GSK is settling 93% of U.S. Zantac cases for up to $2.2 billion and a separate $70 million qui tam complaint. The company will recognize a £1.8 billion charge in Q3 2024, with costs covered by existing resources.
The settlement of Zantac litigation for up to $2.2 billion and a separate $70 million settlement indicates significant financial outlay. The recognition of a £1.8 billion charge in Q3 2024 suggests a negative impact on financial results, likely affecting short-term stock prices negatively.
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IMPORTANCE 90
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