The settlement, announced on Wednesday, resolves 93% of all Zantac cases in state courts against GlaxoSmithKline.

UK-based pharmaceutical giant GSK, or GlaxoSmithKline, has announced that it has agreed to settle nearly 80,000 state-level Zantac cases. The lawsuits claimed that the now-discontinued version of the heartburn drug caused cancer,

GSK has always refuted claims that its discontinued heartburn drug had cancer-causing risks, arguing that expert testimonies were not reliable. View on euronews

Shares of the UK-based pharma giant GlaxoSmithKline PLC ($GB:GSK) soared over 6% after the company announced a settlement of up to $2.2 billion

GlaxoSmithKline (GSK) saw its shares jump more than 6% after the pharmaceutical giant announced a settlement of up to $2.2 billion (€2.01bn) to resolve tens of thousands of lawsuits in the US related to its discontinued heartburn medication, Zantac.

GSK Plc shares surged after the UK pharma company agreed to pay as much as $2.2 billion to resolve about 80,000 US court cases alleging that its old reflux medication Zantac was contaminated with a suspected carcinogen.

By Maggie Fick and Yamini Kalia (Reuters) -GSK shares jumped as much as 6.5% on Thursday after the British drugmaker struck a $2.2 billion settlement over U.S. lawsuits that alleged its discontinued heartburn drug Zantac caused cancer.

The British drugmaker reached a $2.2 billion settlement to resolve around 80,000 lawsuits over claims its Zantac heartburn remedy causes cancer

GSK shares will be in focus today after it agreed a $2.2 billion settlement to resolve about 80,000 or 93% of court cases involving heartburn drug Zantac. The wider FTSE 100 index is seen about 17 points higher at 8261,

Shares of GSK are seen rising 5% according to pre-market indications on Thursday after the British drugmaker agreed to pay up to $2.2 billion to settle lawsuits that claimed its discontinued heartburn drug Zantac caused cancer.