NEW YORK (Reuters) -Sanofi has reached an agreement in principle to settle 4,000 lawsuits linking the discontinued heartburn drug Zantac to cancer, the company said on Wednesday.
Sanofi did not disclose financial terms of the deal. The agreement, which still needs to be finalized, will resolve most of the lawsuits pending in the U.S. state courts, with the exception of cases pending in Delaware.
Sanofi did not admit any liability in the settlement, and said it is settling to avoid the expense and ongoing distraction of the litigation.
“Sanofi has vigorously defended the Zantac litigation since the outset and will continue to do so,” the company said in a statement.
(Reporting by Dietrich KnauthEditing by Chris Reese)
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