(Finance) – Sales stop on GSK, Sanofi And Haleonwhich in the past two sessions had suffered substantial reductions due to fears of lawsuits regarding Zantac, a drug that contains ranitidine, a substance that reduces the amount of acid in the stomach. Zantac, distributed by various multinationals, became the best-selling drug in the world in 1988 and one of the first drugs ever to exceed $ 1 billion in annual sales. In recent years it has been withdrawn by numerous health authorities on suspicion of carcinogenic effects.
According to analysts from Barclaysinvestors are frightened by the possibility that this case could turn into something similar to what Bayer had to face. The pharmaceutical giant he had to pay billions to dismiss the Roundup herbicide affair, at the center of numerous lawsuits for damages for the accusation of being carcinogenic. “As such, the apparent market reaction of”sell first, ask questions later“makes sense,” analysts wrote.
Excellent performance of GSKwhich stood at 1,447.6 with a 3.40% increase. At the operational level, the session is expected to continue under the banner of bull with resistance seen at 1,474.1 and subsequently at 1,529.9. Support at 1,418.3.
Good performance of Sanofiwhich stood at 85.74 with a increase of 1.17%. At the operational level, the session is expected to continue under the banner of bull with resistance seen at 87.53 and later at 91.18. Support at 83.88.
It moves upwards Haleonwhich stood at 269.6, with a 1.45% increase. Operationally, expectations are for a continuation of the day in a positive sense with resistance seen at 273.2 and subsequently at 282.2. Support for 264.1.