GSK Confirms Settlement In Cantlay/Harper Case

(RTTNews) - Consumer goods and pharma major GSK plc (GSK) on Wednesday confirmed that it has reached a confidential settlement in the Cantlay/Harper case that was filed in the California state court.

The trial that was to begin on November 13 will be dismissed.

Zantac (ranitidine) is a drug for heartburn that has been removed from the markets over allegations that it causes cancer.

Further, GSK will be dismissed from three remaining breast cancer bellwether cases in California as they have also been settled.

"GSK does not admit any liability in the settlements and will continue to vigorously defend itself based on the facts and the science in all other Zantac cases," the company said in a statement.

On Tuesday, GSK shares closed at $37.34 up 0.65% on the New York Stock Exchange.