Delaware Court Ruling Allows Zantac Lawsuits to Proceed, GSK Market Cap Plummets by Over $8 Billion

1. Delaware Court Ruling: A Delaware court has allowed more than 70,000 Zantac-related cases against GlaxoSmithKline (GSK) to proceed.
2. Market Impact: GSK shares plummeted by over 9% premarket on Monday, wiping out more than $8 billion from the company's market capitalization.
3. Lawsuit Background: The lawsuits are related to Zantac, a heartburn medication that has been linked to cancer risks.
4. GSK's Financial Hit: The court's decision has significant financial implications for GSK, which is already facing legal battles on multiple fronts.
5. Industry Implications: The ruling could have broader implications for the pharmaceutical industry, which is increasingly facing legal challenges over product safety and liability.