GSK's third-quarter results reveal a substantial loss of £58 million due to $2.3 billion settlements over Zantac lawsuits, contrasting sharply with a £1.5 billion profit from the previous year.
Despite the legal challenges, GSK's CEO Emma Walmsley highlighted strong growth in specialty medicines, which offset declines in vaccine sales, showcasing successful new product launches in oncology and HIV.
GSK reached agreements with multiple plaintiff firms to settle 93 percent of Zantac liability cases, reflecting a strategic move for long-term company stability without admitting any guilt.
The company stated it believed settling was in the best interests of its shareholders, emphasizing that there's no strong evidence linking Zantac to cancer, despite the settlements.
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