(News Bulletin 247) – GSK announced on Friday that it had reached an amicable settlement with a view to ending legal proceedings in California, in which the American pharmaceutical group was accused of having concealed the importance of the risks carcinogens of the ulcer drug Zantac.
In a brief press release, the laboratory confirms that it has reached an arrangement with the plaintiff, James Goetz, which means that the trial which was to be held in San Francisco from July 24 will be abandoned.
The terms of the agreement remained confidential.
GSK, which emphasizes that this amicable settlement does not in any way constitute an admission of guilt, explains that it wanted to find a solution to the dispute in order to avoid a long procedure.
The company adds that it intends to continue to defend itself “vigorously” in other cases relating to Zantac, a drug that it launched on the market in the 1980s before selling it to Pfizer in 2000.
Following these announcements, the action rose by more than 4% on Friday morning on the London Stock Exchange, dragging in its wake the entire European pharmaceutical sector (+0.7%).
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