+6% and a dividend paid out today... |
Indeed, looks like a positive view from market |
Opening USD4bn or so up seems to indicates market relief. |
What happened to the Delaware supreme court appeal, have I missed something? Not sure how price will react but only 15 mins to find out... |
GSK to Pay Over $2 Billion in Bid to End Most U.S. Zantac Lawsuits
GSK agreed to pay more than $2 billion to settle almost all remaining liability cases in the U.S. over allegations its discontinued heartburn medicine Zantac causes cancer.
The British pharmaceutical giant said Wednesday that it had struck agreements with 10 plaintiff firms aimed at resolving 93%, or about 80,000, of pending Zantac lawsuits in the country for up to $2.2 billion.
Write to singaporeeditors@dowjones.com |
USD2.2bn seems a relative bargain compared with the 5 or so being speculated about a few months ago. On balance good news. |
It's the USA. Pay to settle or we drag you out for years for our own pockets, not the plaintiff. |
Settlement of Zantac cases for up to $2.2 billion. I think this is wrong and the company has managed this really badly. I have sympathy with anyone with cancer but the 16 studies showed clearly that Zantac was not the cause. Despicable lawyers. |
All eyes are on the budget now. FTSE in a holding pattern. |
Get a result in the appeal and £19-20 a lot more likely than £13! |
ADRs are up 6%, hardly soaring. Which is handy because it might be more of a slow burn up. |
Up 6% stateside, so expecting that and some tomorrow here |
Pander isn't getting his 13 quid that's for sure |
Shame day b4 divi paid out. Will be getting less shares tomorrow than if received today |
Dynamite....
c £1.7Billion (TG for strong pound). Cheap, cheap, cheap.
And knock off £500 million off for potential legal fee savings over the next few years, and tax write offs on the payment.
GSK should be £20 given peer valuations. |
Pay $2.2 billion to resolve approx 80,000 cases, works out around $27,500 per case, seems cheap to me, onwards and upwards....hopefully! |
Looks like a big rise tomorrow up nearly 8 percen in USA |
Kill or fill at £16.00? |
GSK expects to recognise an incremental charge in its Q3 Results for 2024 of GBP1.8BN in relation to the state courts settlement (93%), the Qui Tam Settlement, and the remaining 7% of pending state court product liability cases, partially offset by expected reduced future legal costs.
The costs of these settlements will be funded through existing resources. There are no changes to GSK growth agenda or investment plans for R&D as a result of these settlements.
This has been a big overhang on the share price for too long and dragged us back from 1800 to 1450, great to see a resolution and to draw a line under it at last, but the settlement will wipe out a quarters earnings.. |
ADR flying .. big up day tomorrow here |
If that draws a line under the issue then 2.2bn is very positive for GSK |
Statement: Zantac (ranitidine) litigation – settlement agreements reached
GSK to resolve 93% (approximately 80000 cases) of U.S. state court Zantac product liability cases for up to $2.2 billion. |
Big news breaking - GSK Plc said it will pay as much as $2.2 billion to resolve about 80,000 US court cases related to contamination of its Zantac reflux medication with a suspected carcinogen. |
Thoughts Redland? |
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