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HEALTHCARE: Glaxo (GSK: A2/A): Zantac Settlement

HEALTHCARE
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  • Positive: Glaxo agrees to a $2.2bn payment to settle 93% of the Zantac related court cases
  • Bank of America analysts had estimated the cost of settlement at up to $8bn earlier this year
  • GSK dropped 10% in June when a Delaware judge permitted scientific testimony in a case. The equity is another -9% below the drop.
  • GSK 32s sold of in June from z+62 to z+77 but as of last night were back to z+63
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  • Positive: Glaxo agrees to a $2.2bn payment to settle 93% of the Zantac related court cases
  • Bank of America analysts had estimated the cost of settlement at up to $8bn earlier this year
  • GSK dropped 10% in June when a Delaware judge permitted scientific testimony in a case. The equity is another -9% below the drop.
  • GSK 32s sold of in June from z+62 to z+77 but as of last night were back to z+63