Relief To Pfizer, Sanofi As US Dismisses Several Lawsuits Associated With Zantac - GSK (NYSE:GSK), Pfizer (NYSE:PFE), Sanofi (NASDAQ:SNY)

U.S. District Judge Robin Rosenberg in Florida has dismissed about 50,000 claims associated with GSK Plc GSK, Pfizer Inc PFE, Sanofi SA SNY, and Boehringer Ingelheim, claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by solid science.
The move does not directly affect tens of thousands of similar cases pending in state courts around the country.
The litigation initially included claims of over ten types of cancer allegedly linked to Zantac but was later narrowed to bladder, esophageal, gastrointestinal, liver, and pancreatic cancer.
Citing a Sanofi spokesperson, Reuters reported that the decision "significantly decreases the scope of the litigation potentially by over 50%," with the remaining litigation being only in state court.
GSK said the company welcomed the decision, and Pfizer said it was pleased by the outcome.
The first state trial is currently scheduled to begin in February in California.
In August, the plaintiff dismissed GSK's first scheduled Zantac related-cancer trial out of 3,000, noting that it did not settle the claim and has not paid anything in exchange for the voluntary dismissal.
Price Action: SNY shares are down 2.62% at $47.28, and GSK shares are down 3.16% at $36.72 during the premarket session on the last check Wednesday.