Haleon rejects liability in Zantac cancer cases
Haleon said on Tuesday it had rejected requests to provision for costs related to US lawsuits over the heartburn drug Zantac, its latest pushback against a threat that has hung over the FTSE 100 consumer health company since it was spun off from GSK in July.
GSK and Pfizer, partners in the joint venture that was spun out to become Haleon, both previously sold Zantac. Haleon does not sell Zantac in the US, but fears it could be held liable in lawsuits over the drug’s potential links to cancer has driven its share price down, according to James Edwardes Jones, analyst at RBC Capital Markets.
Shares in Haleon have fallen almost 17 per cent since it was listed, trailing the 3.5 per cent drop in the FTSE 100. Its shares were up 1 per cent in morning trading on Tuesday.
This story originally appeared on: Financial Times - Author:Judith Evans
