GSK up nearly 7% in New York trading after Zantac settlement

Shares of GSK are up $2.56, or 6.7%, to $40.58 in New York trading after the company announced that it has reached agreements with 10 plaintiff firms who together represent 93%, or approximately 80,000, of the Zantac state court product liability cases pending against GSK in the United States and that GSK will make an aggregate payment of up to $2.2B to resolve all U.S. state court product liability cases handled by those plaintiff firms that meet agreed criteria.