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Sanofi-Aventis (France) (SASY.PA) Opts Out of Metabolex, Inc. Diabetes Drug Deal; Deal Could Have Been Worth up to $375 Million  
5/6/2011 7:24:55 AM

Sanofi-Aventis returned rights to a mid-stage type 2 diabetes drug to Metabolex Inc.

The Paris company said it opted to terminate its right to MBX-2982, the center of a July 2010 deal that Sanofi and Hayward-based Metabolex. A year ago, the companies said the deal could be worth up to $375 million in milestone payments.

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