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.

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