Pfizer affords as much as $250 million to settle Zantac most cancers lawsuits, FT studies

May 16, 2024 | blog

(Reuters) -Pfizer can pay as much as $250 million to settle greater than 10,000 U.S. lawsuits over most cancers dangers related to its discontinued heartburn drug Zantac, the Financial Times reported on Thursday.

The drugmaker was set to pay between $200 million and $250 million within the settlement, the newspaper reported, citing two folks briefed on the deal.

The settlement was disclosed in a courtroom submitting in Delaware final week, and is geared toward lowering Pfizer (NYSE:)’s potential legal responsibility, the report added.

Pfizer didn’t instantly reply to Reuters’ request for remark.

First authorized in 1983, Zantac grew to become the world’s finest selling-medicine in 1988 and was one of many first medicine to prime $1 billion in annual gross sales.

However, the U.S. Food and Drug Administration requested drugmakers to tug Zantac and its generic variations off the market in 2020, after a cancer-causing substance known as NDMA was present in samples of the drug.

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