AstraZeneca Plc agreed to pay $425 million to settle US product liability lawsuits related to heartburn and stomach acid treatments Nexium and Prilosec, which some users said caused kidney damage.
(Bloomberg) — AstraZeneca Plc agreed to pay $425 million to settle US product liability lawsuits related to heartburn and stomach acid treatments Nexium and Prilosec, which some users said caused kidney damage.
The settlement resolves litigation in New Jersey and Delaware courts, the company said in a statement Tuesday. A single case is still pending in Louisiana, with a trial set for next year.
The latest settlement follows earlier agreements reached with GSK Plc, Procter & Gamble Co. and Pfizer Inc. over so-called proton-pump inhibitor medications, which totaled more than $100 million, according to attorneys for the plaintiffs.
“Today’s settlements are a significant victory for the thousands of patients who suffered kidney injuries as a result of using PPI medications,” said Chris Seeger, a lawyer representing claimants, in a statement.
AstraZeneca said it continues to believe the claims are without merit and admits no wrongdoing, but settled to avoid costly legal procedures.
Heartburn medications have been the subject of a range of concerns in recent years. GSK Plc in June settled litigation with a man who claimed the drugmaker’s Zantac treatment caused his cancer.
AstraZeneca shares were little changed on Tuesday afternoon, giving up earlier gains. Some investors had worried that a settlement of the Nexium and Prilosec cases could cost the company more.
(Updates with plaintiffs’ statement in third and fourth paragraphs)
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.