GSK, Sanofi and Haleon slump on worries over Zantac litigation

European-listed shares of drugmakers Haleon HLN, -6.12%, GSK GSK, -9.60% and Sanofi SAN, -9.38% plunged on Thursday on worries over the Zantac heartburn medication litigation. The first trial is set to begin on Aug. 22. GSK shares dropped 10% in London, as Sanofi and Haleon also dropped sharply. Analysts at Deutsche Bank said they don’t expect another glyphosate, but “it is very possible we may see a liability of some billions of dollar magnitude incurred.” Analysts at Credit Suisse note Haleon’s prospectus says indemnification “may” include liabilities from Zantac.

Source: finance.yahoo.com