Sanofi reportedly settles 4K Zantac cases for $100M [Seeking Alpha]
Sanofi - American Depositary Shares (SNY)
US:NYSE Investor Relations:
sanofi.com/en/investors
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Source: Seeking Alpha
Under the settlement, Sanofi will pay around $25,000 per claim. The suits had alleged that Sanofi failed to adequately warn consumers that one of Zantac's ingredients, ranitidine, could produce the carcinogen NDMA, according to Bloomberg The settlement applies largely to state cases filed outside of Delaware. A Delaware judge is set to decide whether to allow certain scientific evidence underlying the claims for another roughly 70,000 cases. A Florida judge threw out more than 5,000 cases in 2022 citing flawed scientific evidence, Bloomberg added. A Sanofi spokesman told Bloomberg that the company was settling the cases not because it believed the claims had merit, but rather to save the company the expense and distraction of ongoing litigation. Zantac has been marketed by several companies over the years, including Pfizer ( PFE ), GSK ( NYSE: GSK ) and Boehringer Ingelheim. GSK, which developed the drug, has settled similar suits in California, but terms were not disclosed. A
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