AstraZeneca has agreed to pay $425 million over 11,000 claims the heartburn drugs Nexium and Prilosec caused chronic kidney disease.
AstraZeneca did not disclose specific terms of the agreement, but said in a statement it admits no wrongdoing and still believes the suits filed against it are “without merit.”
The settlement resolves lawsuits in New Jersey and Delaware courts that claim the company did not appropriately warn patients of the risks of chronic kidney disease posed by the two medications.
A third lawsuit, filed in Louisiana, is not included in the settlement and is set to go to trial in April.
Shares of AstraZeneca were up just 0.2% before the opening bell Tuesday after some worried the settlement would cost the company more than it ultimately settled for, Bloomberg reported.