First Recalls, Now Investors' Concerns Over Ranitidine Litigation Take Pharmas For Wild Ride
Host of complaints in US courts, seeking damages or alleging ranitidine caused various cancers, followed FDA’s 2020 findings of NDMA levels exceeding allowable limits in some samples provoked Litigation is starting to come to trial, the first set for 22 August in Illinois and a bellwether case due to begin in California in February 2023.
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Billions of dollars have been wiped off the value of big pharma stocks as the market finally woke up to widescale litigation concerning allegations of increased cancer risk associated with the use of ranitidine. Two companies, GSK and Sanofi, are confident that there is no link.
The global market leader in consumer health is now Haleon following its separation from GSK after more than two years of planning.
Along with its Q1 results including a 7.3% drop in consumer health sales to €1.11bn ($1.35bn), Sanofi announces 10-mg famotidine tablets branded Zantac 360° will be available in the US in June.