(CercleFinance.com) – Sanofi has tried to reassure investors about the Zantac case, a case that has caused it to lose more than 10% of its stock market valuation during the last two sessions.
In a press release released Thursday evening, the French biopharmaceutical group notes that it had carried out, as early as 2019, a voluntary recall of all ranitidine-based products marketed in the United States and Canada.
This decision followed, the laboratory recalls, the publication of an FDA statement warning that certain ranitidine drugs, including Zantac, contained low levels of a nitrosamine impurity called N-nitrosodimethylamine (NDMA). ), considered to be potentially carcinogenic.
Sanofi points out, however, that neither the FDA nor the European Medicines Agency, which evaluated the molecule, could not establish a link between the consumption of ranitidine, present in Zantac, and the development of cancers.
Over the past two days, Sanofi and GSK have fallen heavily on the stock market on growing concerns about the potential consequences of a lawsuit over the heartburn drug.
The plaintiffs believe the drug’s makers, which include Sanofi and GSK, but also Haleon and Pfizer, failed to properly warn them of the safety risks surrounding the product.
Zantac was marketed in turn by GSK between 1995 and 1998, by Pfizer from 2000 to 2006, by Johnson & Johnson from 2006 to 2017 and then by Sanofi between 2017 and 2019.
Sanofi specifies that the first trial in which it is directly involved is scheduled for February 2023, in the context of proceedings initiated in the State of California.
To date, the group says it is aware of approximately 3,450 personal injury claims filed in all US jurisdictions.
After losing nearly 11% in Wednesday and Thursday sessions, the Sanofi stock rebounded by 1.2% late Friday morning.