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Friday, January 6, 2017

Sanofi Investors Have Worst Day in Six Months

Sanofi SA led Frances's benchmark CAC-40 lower Friday after a U.S. court barred the sale of the pharmaceutical maker's new anti-cholesterol drug Praulent until two patents held by rival Amgen Inc. expire. Sanofi, the commercial partner to Tarrytown, NY-based Regeneron Pharmaceuticals Inc. , 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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