GSK settles its disputes
British drugmaker GSK said it would pay up to $2.2 billion to settle most of the lawsuits filed against it in the United States, alleging that a discontinued version of its heartburn drug, Zantac, allegedly caused cancer.
An agreement was therefore reached with ten law firms which together represent 80,000 cases, or 93% of all complaints filed by the United States against GSK. This deal is well below some analysts’ estimates, including JP Morgan’s projection of $3.5 billion. The stock price of GSK is therefore seen increasing by 6.31% in London.
Sanofi wants to get rid of Doliprane, a very mainstream drug but “not profitable enough”
On today’s program
Market attention is divided between French politics and the American economy on Thursday. The government must unveil its draft budget for 2025, a high-risk exercise as the effort planned to reduce the dizzying French deficit is massive and the fragmented National Assembly is hostile to it. The executive will detail how it intends to find 60 billion euros in the finance bill (PLF) and social security financing bill (PLFSS) to restore adrift public finances.
The challenge for France is also to reassure investors, so that the cost of debt does not soar and does not weigh further on its economy.
