TOP NEWS: GSK celebrates Illinois jury verdict in Valadez case

(Alliance News) - GSK PLC on Friday welcomed the jury verdict in the Valadez case in Illinois ...

Alliance News 24 May, 2024 | 7:36AM
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(Alliance News) - GSK PLC on Friday welcomed the jury verdict in the Valadez case in Illinois state court, which found in GSK's favour in the first Zantac case to go to trial.

"This outcome is consistent with the scientific consensus that there is no consistent or reliable evidence that ranitidine increases the risk of any cancer, supported by 16 epidemiological studies looking at human data regarding the use of ranitidine," the Brentford, London-based pharmaceutical company said.

GSK also noted that the Williams case in the Zantac trial, which had been due to start on Thursday this week, has been dismissed by Illinois state court. The court said GSK was not the brand manufacturer of Zantac at the time the plaintiff allegedly used it and therefore should not be liable.

GSK said it "will continue to vigorously defend itself against all other claims".

Zantac was a heartburn drug that was pulled off the market in 2020 at the request of the US Food & Drug Administration, after low levels of a "probable carcinogen" were found in samples. The carcinogen, known as NDMA, is not harmful in very small amounts. However, tests showed that there were excessive quantities of NDMA in ranitidine, otherwise known as Zantac. Multiple litigations have followed.

Separately on Friday, GSK said that findings across its oncology portfolio will be presented in 25 abstracts at the American Society of Clinical Oncology annual meeting in Illinois, which runs from May 31 to June 4.

The company noted that results for monotherapy Blenrep in multiple myeloma have been featured in a late-breaking presentation. Further, GSK will present updated results from a support collaborative study for cancer medicine Jemperli in locally advanced mismatch repair deficient rectal cancer.

GSK shares were unchanged at 1,778.00 pence each on Friday morning in London.

By Tom Budszus, Alliance News slot editor

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Security Name Price Change (%) Morningstar
GSK PLC 1,604.50 GBX -0.34

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