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    GSK   GB00BN7SWP63

GSK PLC

(GSK)
  Report
Delayed London Stock Exchange  -  11:35:10 2023-01-30 am EST
1413.00 GBX   +0.21%
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TOP NEWS: GSK welcomes Zantac legal boost in Florida

12/06/2022 | 05:00pm EST

(Alliance News) - GSK PLC on Tuesday welcomed a US verdict in a lawsuit which had claimed the Zantac heartburn drug caused cancer.

Sanofi SA and Pfizer Inc were also among the firms named in the US District Court for the Southern District of Florida's verdict. GSK, among others, came under pressure amid worries that heartburn treatment Zantac causes cancer. Shares in its consumer healthcare spin-off Haleon PLC were also hit.

While the Zantac worries are not new, they particularly grabbed investor attention over the summer. In its listing prospectus, Haleon actually mentioned Zantac litigation. It noted GSK and Pfizer, its former owners, were named as a defendant in roughly 2,150 US "personal injury lawsuits involving Zantac".

The Florida lawsuit featured roughly 50,000 claims. However, the court said plaintiffs failed to provide enough "admissible primary evidence".

"In a products liability multi-district litigation, the plaintiff must have admissible primary evidence with which to establish general causation," a statement read. "As a result, if the plaintiff does not have this evidence, then there is no genuine dispute of material fact, and the defendant is entitled to judgment as a matter of law."

In response, GSK said: "We welcome today's ruling in the Zantac federal multi-district litigation in the United States District Court of Southern Florida. As you would expect, we are reviewing the court's decision in full, and will respond in more detail as soon as possible."

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

Stocks mentioned in the article
ChangeLast1st jan.
GSK PLC 0.21% 1413 Delayed Quote.-1.92%
HALEON PLC 0.41% 320.8 Delayed Quote.-2.40%
PFIZER, INC. -0.55% 43.55 Delayed Quote.-14.54%
SANOFI 0.27% 89.79 Real-time Quote.-0.32%
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Analyst Recommendations on GSK PLC
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Financials
Sales 2022 29 105 M 36 010 M 36 010 M
Net income 2022 6 339 M 7 843 M 7 843 M
Net Debt 2022 14 349 M 17 753 M 17 753 M
P/E ratio 2022 8,51x
Yield 2022 4,31%
Capitalization 57 382 M 70 996 M 70 996 M
EV / Sales 2022 2,46x
EV / Sales 2023 2,41x
Nbr of Employees 90 096
Free-Float 93,7%
Chart GSK PLC
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Technical analysis trends GSK PLC
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 1 413,00 GBX
Average target price 1 694,98 GBX
Spread / Average Target 20,0%
EPS Revisions
Managers and Directors
Emma N. Walmsley Chief Executive Officer & Executive Director
Iain James Mackay Chief Financial Officer & Executive Director
Jonathan Richard Symonds Non-Executive Chairman
Jon Ellis VP & Head-Technology Business Development
Tony Wood Chief Scientific Officer
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