legal affairs
Sanofi resolves most Zantac litigation
Sanofi will settle about 4,000 personal injury claims from people who used the heartburn drug Zantac — resolving all of its litigation across the country, except in Delaware, FierceBiotech writes.
Zantac was developed by GSK and approved in 1983. In 2020, there was concern that ranitidine, the drug's main ingredient, could potentially transform into a carcinogen over time, or when exposed to high temperatures. Many of these Zantac cases were dropped against companies like Pfizer in 2022 when a Florida judge rejected the claims that Zantac causes cancer.
"Sanofi is settling these cases, not because we believe the claims have any merit, but rather to avoid the expense and ongoing distraction of the litigation," a Sanofi spokesperson said. "No concessions of liability have been made."
biotech scorecard
Have you read Adam's newsletter yet?
A once-struggling company developing a marijuana-esque weight loss drug has suddenly become one of the best-performing biotech stocks this year. Skye Bioscience's antibody drug, nimacimab, targets the body's endocannabinoid stem. Investors took interest, of course, when evidence emerged that it could pair with GLP-1 drugs. Later this year, Skye will kick off a Phase 2 study testing nimacimab alone, and in combination with a GLP-1 drug.
Also, last week a federal judgment dismissed defamation lawsuits filed by Cassava Sciences against three people who criticized the company's experimental Alzheimer's treatment. The defendants also had been shorting Cassava's stock. Adam, who repeatedly voiced the same critique, pointed out that the judge acknowledged that "the short positions on their do not support a showing of actual malice," but rather a rational choice given that Cassava's stock was overvalued.
STAT+ subscribers can get more insight about all this and more by signing up for Adam's Biotech Scorecard. You can do so here.
And read this week's version online here.
No comments