James Myers of OAN
1:32 PM – Wednesday, May 8, 2024
Pfizer has agreed to financially settle 10,000 lawsuits alleging that the drug company failed to disclose to patients that its heartburn drug Zantac may have cancer risks.
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This also comes after Texas Attorney General Ken Paxton sues Pfizer In 2023, he was charged with “unlawfully misrepresenting the effectiveness of the company’s coronavirus vaccine and attempting to censor public discussion about the product.”
The Zantac lawsuits, filed in state courts across the country, say the agreement does not fully resolve Pfizer’s exposure to claims linking Zantac to cancer. bloomberg news.
Terms of the settlement were not disclosed.
Zantac was introduced to the market in 1983 by Glaxo Holdings, now part of the GlaxoSmithKline company. In 1988, it became the best-selling drug of its kind in the world, driven by patient reports of symptoms such as acid reflux, heartburn, and ulcers.
By 1997, Glaxo’s patent on Zantac’s active ingredient ranitidine had expired.
That same year, pharmaceutical companies also began working on developing generic versions of the drug.
But in 2020, the Food and Drug Administration (FDA) asked drug companies to stop selling Zantac and its generic drugs after a carcinogenic compound called NDMA was detected in samples.
As a result, thousands of lawsuits have been filed in federal and state courts against GSK, Pfizer, Sanofi, and Boehringer Ingelheim.
In April, Sanofi reached an agreement in principle with Zantac to settle 4,000 cancer-related lawsuits.
Sanofi did not disclose formal financial terms of the deal, but bloomberg news The company reported paying approximately $100 million, or $25,000, to each plaintiff.
Meanwhile, a lawsuit began last week in a lawsuit filed by a Chicago woman who claims she developed colon cancer after taking Zantac for more than 20 years. Angela Valadez, 89, filed a lawsuit against GSK and Boehringer Ingelheim.
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