GSK, Sanofi and Haleon slump on worries over Zantac litigation

European-listed shares of drugmakers Haleon /zigman2/quotes/236012088/delayed UK:HLN -0.55% , GSK /zigman2/quotes/200381158/delayed UK:GSK -0.18% and Sanofi /zigman2/quotes/206928357/delayed FR:SAN -0.39% plunged on Thursday on worries over the Zantac heartburn medication litigation. The first trial is set to begin on Aug. 22. GSK shares dropped 10% in London, as Sanofi and Haleon also dropped sharply. Analysts at Deutsche Bank said they don't expect another glyphosate, but "it is very possible we may see a liability of some billions of dollar magnitude incurred." Analysts at Credit Suisse note Haleon's prospectus says indemnification "may" include liabilities from Zantac.

/zigman2/quotes/236012088/delayed

Add to watchlist UK:HLN

Haleon PLC

UK : U.K.: London

£ 334.80

-1.85 -0.55%

Volume: 9.74M

Sept. 22, 2023 4:35p

P/E Ratio

27.99

Dividend Yield

0.01%

Market Cap

£30.92 billion

Rev. per Employee

N/A

/zigman2/quotes/200381158/delayed

Add to watchlist UK:GSK

GSK PLC

UK : U.K.: London

1,527.80 p

-2.80 -0.18%

Volume: 7.13M

Sept. 22, 2023 4:35p

P/E Ratio

4.19

Dividend Yield

3.70%

Market Cap

£62.20 billion

Rev. per Employee

£422,680

/zigman2/quotes/206928357/delayed

Add to watchlist FR:SAN

Sanofi S.A.

FR : France: Euronext Paris

€ 102.10

-0.40 -0.39%

Volume: 1.52M

Sept. 22, 2023 5:55p

P/E Ratio

14.89

Dividend Yield

3.49%

Market Cap

€128.27 billion

Rev. per Employee

€473,873