Pfizer Settles Over 10,000 Zantac Cancer-Risk Lawsuits: Latest Updates
Written by Deborah Oyinloye on May 9, 2024
Pharmaceutical giant Pfizer Inc. has reached an agreement to settle over 10,000 lawsuits alleging the company concealed the cancer risks associated with its heartburn medication, Zantac, as reported by Bloomberg on Wednesday.
Sources familiar with the matter, speaking on condition of anonymity, disclosed that the financial terms of the settlements were not immediately disclosed.
These settlements pertain to cases filed across various state courts in the United States but do not entirely resolve Pfizer’s legal exposure regarding Zantac, according to the report.
Zantac, a widely-used antacid in the US for over three decades, has changed hands among different pharmaceutical companies. Originally developed by GlaxoSmithKline and Warner-Lambert, it entered the US market as a prescription drug in 1983 before becoming an over-the-counter remedy in 1996.
In 2017, Sanofi acquired the drug before recalling it in 2019 following findings by an independent laboratory revealing the potential carcinogen NDMA in the drug and its generics. The laboratory’s research suggested that the drug’s active ingredient, ranitidine, could form NDMA over time or under certain conditions.
Confirming these findings, the US Food and Drug Administration (FDA) in 2020 mandated the removal of all Zantac versions from the market. Subsequently, Sanofi reintroduced Zantac to the market without ranitidine, substituting it with famotidine, the active ingredient in the competitor heartburn drug Pepcid.
In response to the settlements, Pfizer stated, “The company has not sold a Zantac product in more than 15 years and did so only for a limited period of time.”
News of Pfizer’s settlement emerged in a court filing in Delaware related to a trial in Chicago, where more than 70,000 Zantac lawsuits have been filed. The judge in Delaware is deliberating on the sufficiency of scientific evidence in these cases for potential trial.
The reported settlement is expected to reassure investors, who witnessed similar settlements by other Zantac manufacturers such as GSK Plc and Sanofi. Concerns about the companies’ legal liabilities regarding Zantac led to a significant market value decline in 2022, although shares have since rebounded, particularly following news of settlements. Pfizer shares were up 1.5% to $28.19 at 11:55 a.m. in New York.
In related developments, Sanofi recently agreed to pay over $100 million to resolve approximately 4,000 Zantac cases, as reported by Bloomberg News last month. Meanwhile, GSK is currently defending itself in its inaugural US jury trial over allegations of concealing Zantac’s risks.
Plaintiffs’ lawyers in the Zantac cases filed a notice on April 29, indicating that the Chicago judge had reviewed the scientific evidence and approved the case for trial, with Pfizer mentioned as having already settled, leaving GSK and Boehringer Ingelheim GmbH to proceed to trial.
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Author: Deborah Oyinloye
With an interest in media, Deborah aims to impart the lives of people positively.
