. It did not admit any liability and said it would vigorously defend itself in any other Zantac cases.
“It was this headline risk with a trial date right around the corner that was keeping investors on the sidelines in GSK,” Barclays analyst Emily Field wrote in a note. “It also removes the distraction of any protracted litigation as the company must focus on its future pipeline which is where value will be created for shareholders,” she said.
Bank of America analysts on Friday said they continued to see the litigation risk of Zantac to be low in absolute terms, suggesting that the settling the Goetz case would have likely cost GSK “low hundreds of millions” in dollars in the worst case.
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