Overview

A class action lawsuit has been filed against GSK plc (“GSK” or the “Company”) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The Company’s American Depositary Receipts (“ADRs”), each representing two shares of GSK common stock, trade on the New York Stock Exchange under the ticker symbol “GSK.”  As of February 23, 2024, over 416 million GSK ADRs were outstanding, owned by hundreds or thousands of investors.

The GSK class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired ADRs of GSK between February 5, 2020, and August 14, 2022, both dates inclusive (the “Class Period”).  Investors have until April 7, 2025, to seek appointment as lead plaintiff in the GSK class action lawsuit.

GSK, a global pharmaceutical company, has developed and marketed numerous best-selling drugs, including Trelegy Ellipta for asthma and Shingrix for shingles.  However, for decades, one of its most profitable products was Zantac, a widely used treatment for heartburn and acid reflux.  Originally developed by Glaxo, a predecessor to GSK, Zantac became the world’s best-selling drug by 1987, generating billions in revenue.  GSK continued selling Zantac in the United States until 2017, despite being aware of potential safety concerns associated with the drug’s active ingredient, ranitidine.

Internal reports dating back to 1982 indicated that ranitidine could form N-nitrosodimethylamine (“NDMA”), a highly carcinogenic compound.  Research conducted by a Glaxo scientist revealed that under common conditions, ranitidine produced NDMA levels more than 2,000 times above the U.S. Food and Drug Administration’s (“FDA”) later-established safe limit.  Rather than disclosing these findings, Glaxo and subsequently GSK suppressed the report.  It was not until 2019, when independent laboratory Valisure detected NDMA in all tested batches of Zantac, that the issue was exposed.  Following this revelation, GSK suspended distribution, recalled the drug, and, in 2020, the FDA ordered the removal of Zantac and its generic alternatives from the market.

In the wake of these disclosures, GSK faced tens of thousands of lawsuits from cancer patients, alleging that the Company knowingly concealed Zantac’s risks.  While GSK reassured investors that there was no proven link between Zantac and cancer, it failed to disclose its decades-old internal report confirming NDMA formation.  Investors were also misled when GSK claimed it could not estimate potential liability, despite being aware of the legal risks for years.  In October 2024, GSK settled approximately 80,000 lawsuits, resolving 93% of the outstanding litigation related to Zantac.

Investor concerns escalated in August 2022 when Deutsche Bank reported that GSK could face liability of up to $10 billion, contradicting the Company’s previous assurances.  This news caused GSK’s stock price to drop more than 10%.  Shortly after, GSK admitted that it could estimate its liability, providing a range of $1 billion to $10 billion.  The final $2.2 billion settlement confirmed that GSK had misrepresented its financial exposure, leading to further stock declines and raising concerns about corporate transparency and accountability.

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If you purchased or otherwise acquired ADRs of GSK between February 5, 2020, and August 14, 2022, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the GSK class action lawsuit is April 7, 2025.