Bummer, but only mildly for me I don't have that large a position any longer. The share price now is still above when the litigation scares started which shows how the market can overcorrect to any news despite GSK having largely mixed results when it comes to the pipeline in the past year
I went back to check the Merck vioxx case - settled for 4.85B with 60K outstanding suits. Here there are 70K suits, but spread out over several defendants. GSK lost about 5B in market cap So far GSK has settled cases until last month when they won a verdict at trial. I think they will probably be motivated not to settle more and more while they appeal the Delaware ruling. Merck won about 2/3 of the cases before settling and was obviously the sole defendant unlike this case. So again an overshoot IMO by the market
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