- Haleon Plc HLN notified GSK Plc GSK and Pfizer Inc PFE that it had denied their claims for compensation in connection with a US-based lawsuit over the heartburn drug Zantac.
- In a statement, Haleon said the rejection was based on the scope of the indemnifications specified in the joint venture agreement, which only covers the consumer healthcare business, as done when the joint venture was formed in 2018.
- Over 2,000 Zantac-related cases have been filed in the US for the alleged presence of probable cancer-causing carcinogens.
- Related: One lawsuit out of 3,000 Zantac-related lawsuits, GSK says.
- Originally marketed by GSK, Zantac has been sold by several companies at different times, including Pfizer, Boehringer Ingelheim and Sanofi SA CUTas well as several generic drug manufacturers.
- Haleon has repeatedly said it has never marketed Zantac in any form in the United States, either as Haleon or as GSK Consumer Healthcare.
- In July GSK completed the carve-out of the consumer healthcare business establishing the Haleon Group.
- In conversation with ReutersCEO Brian McNamara reiterated that Haleon would never have agreed to assume a share of any such liability should it incur damages as a result of a US litigation over Zantac.
- Last week, analysts at Credit Suisse estimated Zantac’s pre-tax debt to Haleon at around $200 million to $400 million.
- Price promotion: HLN shares are up 3.21% to $6.10 during the premarket session on the last monitoring Tuesday.
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