REG - AstraZeneca PLC - AstraZeneca settles Nexium liability litigations

AstraZenecaAnnouncement

03/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231003:nRSC4470Oa&default-theme=true

RNS Number : 4470O  AstraZeneca PLC  03 October 2023

3 October 2023

AstraZeneca settles Nexium and Prilosec product liability litigations

AstraZeneca has entered into settlement agreements in the product liability
litigations related to Nexium and Prilosec. The agreements effectively resolve
the product liability claims that are currently pending in the Multidistrict
Litigation in the US District Court for the District of New Jersey, as well as
in the Delaware Superior Court and the New Jersey Superior Court. The specific
terms of the agreements are confidential.

 

AstraZeneca continues to believe these claims are without merit and admits no
wrongdoing in the settlement agreement. These settlements avoid continued
costly litigation and allow the Company to move forward with its purpose of
delivering life changing medicines to millions of patients around the world.

 

A single case remains pending in the US District Court for the Middle District
of Louisiana. Trial is scheduled in that case for April 15, 2024.

 

Financial considerations
AstraZeneca will make payment of $425 million, for which a provision has been
taken.

Notes

 

Nexium and Prilosec

Nexium and Prilosec are prescription only drugs used to treat patients with
acid-related symptoms and diseases. Nexium and Prilosec can provide relief for
a range of patients, including those who are frustrated by the disruption that
the condition causes to their life. Nexium and Prilosec work by binding to and
inhibiting the acid pumps of a particular type of cells in the lining the
stomach wall to stop the production of stomach acid. In doing so, it lowers
the level of acidity in the stomach and helps to heal erosions in the
esophagus or ulcers in the stomach and duodenum. Both Nexium and Prilosec are
available via prescription to treat these diagnosable conditions and
over-the-counter in lower dosages to treat heartburn.

 

AstraZeneca

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical
company that focuses on the discovery, development, and commercialisation of
prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals,
including Cardiovascular, Renal & Metabolism, and Respiratory &
Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries
and its innovative medicines are used by millions of patients worldwide.
Please visit astrazeneca.com (http://www.astrazeneca.com/)  and follow the
Company on social media @AstraZeneca
(https://gateway.zscalertwo.net/auD?origurl=https:%2f%2fwww.linkedin.com%2fcompany%2fastrazeneca&_ordtok=Mkk3WV5DBDPmQrD4F5MGdGDMZR)

Contacts

For details on how to contact the Investor Relations Team, please click here
(https://www.astrazeneca.com/investor-relations.html#Contacts) . For Media
contacts, click here (https://www.astrazeneca.com/media-centre/contacts.html)
.

 

Adrian Kemp

Company Secretary

AstraZeneca PLC

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFSMESEEDSEDS