GSK shares rose on Friday after announcing a settlement with James Goetz, who alleged Zantac caused cancer.
James Goetz filed a case with California state court claiming that using GSK’s Zantac heartburn medicine had resulted in cancer.
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GSK and previous owners of Zantac have been gearing up for a series of court cases because the medicine contains NDMA, which is known to cause cancer when too much enters the body. Humans regularly consume NDMA in small amounts.
The case would have been potentially damaging for GSK, who said:
“The settlement reflects the Company’s desire to avoid distraction related to protracted litigation in this case.”
GSK shares were over 5% higher at the time of writing.