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Benzinga
Benzinga
Technology
Vandana Singh

Recalled Heartburn Pill Zantac Sets Fire To Glaxo and Sanofi Shares As Billions In Market Value Goes Up In Smoke

Sanofi GSK Glaxo Zantac NYSE Haleon GSK Plc Haleon Plc HLN Nasdaq

Sanofi SA (NASDAQ:SNY), GSK Plc (NYSE:GSK), and Haleon Plc (NYSE:HLN) have lost a combined $40 billion in market value since Tuesday's close amid litigation concerns around the recalled heartburn drug Zantac (ranitidine), Bloomberg writes.

GSK's recent spinoff Haleon said it's not a party to the litigation proceedings and has never marketed the drug in any form in the US, either as Haleon or as GSK Consumer Healthcare. Sanofi and GSK declined to comment.

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