AstraZeneca plc (LON:AZN) 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.
