Sanofi to pay $315M to settle claims it purposefully slowed MS drug development

Sanofi has agreed to pay $315 million to settle claims that it slowed the development of a multiple sclerosis drug to avoid paying investors after the company acquired Genzyme Corp.

The lawsuit, filed by former Genzyme shareholders in 2015, alleged Sanofi intentionally slowed development of Lemtrada, Genzyme's MS drug, to avoid paying the shareholders for regulatory and sales milestones.

The shareholders said they were due between $708 million and $3.8 billion depending on how quickly Lemtrada received FDA approval, according to BioPharma Dive.

The settlement does not include an admission of liability or wrongdoing from Sanofi.

Read the full article here.

More articles on pharmacy:
Amgen exits neuroscience research, cuts 180 US jobs
Walgreens' exit from health clinic business should serve as a warning to rivals
Top 10 pharmacy stories in October

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months