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Sanofi (SNY) Investors Have Worst Day In Six Months



1/6/2017 7:51:14 AM

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Sanofi (SNY) led France's benchmark CAC 40 lower Friday after a U.S. court barred the sale of the pharmaceutical maker's new anti-cholesterol drug Praluent until two patents held by rival Amgen (AMGN) expire.

Sanofi, the commercial partner to Tarrytown, N.Y.-based Regeneron Pharmaceuticals (REGN) , which discovered the drug, said in a statement that the two companies consider Amgen's patents "invalid" and plan to appeal the U.S. District Court for the District of Delaware's Thursday ruling in favour of Amgen's competing drug, Repatha.

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