05:34 PM EDT, 04/03/2024 (MT Newswires) -- Sanofi ( SNY ) confirmed it entered an agreement to settle nearly 4,000 lawsuits over failure to warn patients about Zantac heartburn medicine's cancer risk.

A company spokesperson told MT Newswires Wednesday that the agreement will resolve Zantac personal injury cases pending against it in all US state courts outside of Delaware.

"The agreement requires the consent of individual plaintiffs and will take some time to conclude," the spokesperson said. However, the company will continue to defend Zantac litigation, the spokesperson added.

The financial terms of Sanofi's ( SNY ) agreement were not disclosed. "The resolution of these cases will have no material financial impact," the spokesperson said.

The settlement was first reported by Bloomberg on Wednesday. The news outlet said the company settled approximately 5,000 cases in five US states. There are about 20,000 Zantac claims against Sanofi ( SNY ) in Delaware state court, the report said.

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