GSK Jun 2024 40.000 put
- Bloomberg
GSK Plunges as Drugmaker Must Face Zantac Cases in Delaware
(Bloomberg) -- GSK Plc shares plunged in the wake of a court ruling that the UK drugmaker, alongside others including Sanofi, must face trials over whether the former heartburn treatment Zantac causes cancer. Most Read from BloombergKey Engines of US Consumer Spending Are Losing Steam All at OnceHomebuyers Are Starting to Revolt Over Steep Prices Across USGameStop Shares Double as Gill Post Shows $116 Million BetMnuchin Chases Wall Street Glory With His War Chest of Foreign MoneyNvidia Unveils N
- Evening Standard
FTSE 100 Live 3 June: GSK shares tumble, Monzo turns first profit
GSK shares are today’s major focus after the drugs giant’s defence against Zantac claims suffered a setback in a Delaware court. The FTSE 100 index is trading higher after Friday’s late rally by Wall Street markets was further boosted by this week’s prospect of an ECB interest rate cut. Other companies in the spotlight today include FTSE 250-listed Hollywood Bowl, having posted an 11% rise in half-year profits.
- Reuters
GSK shares tumble 9% after 70,000 Zantac lawsuits allowed to proceed
(Reuters) -Shares of GSK dropped more than 9% on Monday, after a Delaware judge allowed more than 70,000 lawsuits alleging its discontinued heartburn drug Zantac caused cancer, to go forward, in a blow for the British drugmaker. Its shares were down 9.4% at 16 pounds by 1052 GMT, on course for their worst day since August 2022, with the drop wiping out nearly 7 billion pounds ($8.90 billion) of the company's market value. The lawsuits have been an overhang for the company, with concerns about protracted legal wrangling and compensation wiping almost $40 billion off the combined market value of GSK, Sanofi, Pfizer and Haleon over roughly a week in August 2022.
