Shares of GSK are seen rising 5% according to pre-market indications on Thursday after the British drugmaker agreed to pay up to $2.2 billion to settle lawsuits that claimed its discontinued heartburn drug Zantac caused cancer.
GSK shares tumble 9% after 70,000 Zantac lawsuits allowed to move forward
The agreement, announced on Wednesday, resolved 80,000 or 93% of the pending cases against the company in the US and was far lower than some analyst estimates, including JP Morgan’s projection of $3.5 billion.
Source: Brecorder
