In a muffled bombshell, Pfizer, a titan in Big Pharma, has just settled a shocking 10,000 lawsuits linked to cancer and the antacid Zantac.
In case you were wondering just how bad things actually are with Zantac, take a look at this: Bloomberg: Pfizer Inc. has agreed to settle more than 10,000 cases accusing it of hiding the cancer risks of its Zantac heartburn drug, according to people familiar with the deal, the biggest of the litigation.
The agreements cover cases in state courts across the US but don't completely resolve the company's exposure to Zantac claims, according to the people, who spoke on the condition of anonymity because they weren't authorized to discuss the settlement publicly.
The deal is likely to reassure investors, who have seen other Zantac makers, including GSK Plc and Sanofi, sign settlements.
Concerns about the drugmakers' exposure to Zantac suits helped wipe out about $45 billion in combined market value in the summer of 2022.
"The company has not sold a Zantac product in more than 15 years and did so only for a limited period of time." Of course, this won't solve Pfizer's problems with Zantac.
Camus: Pfizer Inc. has agreed to settle more than 10,000 cases accusing it of hiding the cancer risks of its Zantac heartburn drug, according to people familiar with the deal, the biggest of the litigation.
https://revolver.news/2024/05/pfizer-very-quietly-agrees-to-settle-10000-cancer-lawsuits/
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