Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020.
LONDON — Shares of British pharmaceuticals giant GSK plunged 9% Monday, after a U.S. court ruled that scientific evidence could be presented in a stack of lawsuits relating to the discontinued heartburn drug Zantac.
The Delaware State Court late on Friday ruled that plaintiffs' expert witnesses could testify in the roughly 75,000 cases alleging the once-popular drug ranitidine — sold under the brand name Zantac in the U.S. — may cause cancer.
The companies involved deny there is a scientific consensus that the drug can be linked to any later development of cancers.
In a statement Friday, GSK said it disagreed with the latest Delaware ruling and would immediately seek an appeal.
Persons:
ranitidine —, Brent Wisner, Wisner Baum, Zantac
Organizations:
GlaxoSmithKline, Stevenage, GSK, Delaware State Court, France's, Pfizer, Germany's
Locations:
Britain, Delaware, U.S, France's Sanofi