- The stock price of Sanofi (SNY) fell by over 5% during intraday trading today. This is why.
The stock price of Sanofi (SNY) fell by over 5% during intraday trading today. Investors are responding to concerns about U.S. litigation over a heartburn drug that was removed from the market in 2020 for containing a probable carcinogen, according to Reuters.
Over 2,000 legal cases have been filed in the U.S. and the first trial will start later this month.
Zantac was sold by several companies over the last few decades. And the drug was marketed by GSK (1995-1998), Pfizer (2000-2006), Johnson & Johnson (2006-2017), and Sanofi (2017-2019).