On Tuesday, shares in HALEON PLC (LON: HLN) were higher after the consumer healthcare company rejected requests for indemnification from GSK (LON: GSK) and Pfizer (NYSE: PFE) over litigation in the US associated with the heartburn drug Zantac. UK-based Haleon asserted earlier this year that it was ‘not a party to any claims against Zantac.

The company further said that the scope of the indemnities enshrined in the joint venture agreement only covers consumer healthcare businesses as conducted in 2018. At that time, neither GSK nor Pfizer marketed OTC Zantac in the US or Canada. Previously, the business warned of risks stemming from the Zantac lawsuits in its prospectus.
More than 2,000 personal injury cases have been filed, establishing a connection between Zantac and cancer, with claimants accusing GSK and Pfizer of not adequately warning customers.

On Tuesday, Haleon elsewhere posted a 22.1 per cent jump in first-half adjusted operating profit, as the manufacturer of Sensodyne toothpaste and Advil painkillers was boosted by increased household demand and geographic expansion. The group held that third-quarter trading momentum was positive but will decline due to challenges posed by the impact of rising inflation on consumer spending.