Sanofi, GSK, Ha­le­on see stock prices dip and dive amid lit­i­ga­tion for re­called heart­burn drug

Zan­tac be­came one of the most well-known drugs on the mar­ket af­ter be­ing FDA-ap­proved in 1983 — and now close to four decades lat­er, law­suits over safe­ty con­cerns are rat­tling an­a­lysts and in­vestors.

Sanofi, GSK and Ha­le­on, GSK’s for­mer con­sumer health­care unit, have lost bil­lions of dol­lars in mar­ket cap since Tues­day’s mar­ket close, ac­cord­ing to Bloomberg. While Zan­tac is no longer on the mar­ket, the drop came af­ter a suite of an­a­lysts, from Mor­gan Stan­ley and oth­er firms, sound­ed the alarm on the po­ten­tial im­pact of on­go­ing per­son­al in­jury lit­i­ga­tion.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER