News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Sanofi (France) (SAN.PA) Pulls the Plug on Two Late-Stage Drugs, Plans $285 Million Charge


6/3/2013 7:59:51 AM

Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!

Sanofi (SAN)’s experimental cancer treatment iniparib failed to help lung-cancer patients in a late-stage trial, prompting the company to end research into the once-promising compound and take a $285 million charge. Development of an anti-coagulant, otamixaban, also will be halted after the drug showed no benefit over existing therapies in a study, the French drugmaker said in a statement today. Chief Executive Officer Chris Viehbacher reorganized Sanofi’s oncology business into a full-fledged division soon after taking over in December 2008, touting iniparib as a key program for the company’s transformation. Sanofi got the compound, also known as BSI-201, through the 2009 purchase of BiPar Sciences Inc. The French company agreed to pay as much as $500 million if iniparib met development goals.

Help employers find you! Check out all the jobs and post your resume.

Read at Bloomberg
Read at Reuters
Read at News Release
Read at RTT News
Read at Seeking Alpha
Read at Pharma Times [Free Reg Req'd]


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES