Sanofi, GSK and Pfizer Lose Billions in Value on Zantac Woes

Sanofi, GSK and Pfizer Lose Billions in Value on Zantac Woes

(Bloomberg) — Sanofi, GSK Plc and Haleon Plc extended their declines and have lost a combined $40 billion in market value since Tuesday’s close amid mounting concerns about litigation around the recalled heartburn drug Zantac.

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Sanofi fell as much as 13% on Thursday in trading volumes nearly 10 times the average, taking its two-day decline to 20%, the steepest drop ever over that timeframe. GSK slid as much as 12% in London, while its recent spinoff Haleon slumped…


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