Why GSK Plc And Sanofi SA Stock Are Shooting Higher

Shares of GSK plc GSK and Sanofi SA SNY are trading higher going into the close of Tuesday's session after the companies reportedly won a Zantac product liability lawsuit.

The drugmakers on Tuesday defeated thousands of lawsuits in U.S. federal court, per a court filing. The lawsuits claimed that the popular heartburn drug Zantac caused cancer. A judge found the claims were not backed by sound science.

According to data from Benzinga Pro:

• GSK closed higher by 7.85% to $37.92
• SNY closed higher by 8.06% to $48.55