02:14 PM EDT, 10/09/2024 (MT Newswires) -- GSK (GSK) said Wednesday it has agreed to pay $2.2 billion to settle 93% of Zantac state court product liability cases in the US.

The agreement, expected to be fully implemented by H1 2025, has been reached with 10 plaintiff firms representing roughly 80,000 pending lawsuits, GSK said in a regulatory filing.

The story was reported earlier by Bloomberg.

GSK said it also reached a $70 million settlement to resolve a Zantac-related qui tam complaint filed by Valisure.

The company has not admitted liability in both settlements and will fund them through existing resources. GSK expects a 1.8 billion pounds ($2.35 billion) charge in its Q3 results.

GSK shares were up nearly 8% in recent trading.

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