Lexicon slumps after Sanofi pulls out of deal

27 July 2019

Shares of USA-based Lexicon Pharmaceuticals (Nasdaq: XRX) plummeted more than 50% to $2.82 in after-hours trading on Friday, after Sanofi (Euronext: SAN) revealed that it was pulling out of a collaboration on the development and commercialize Zynquista (sotagliflozin) for controlling blood sugar levels in type 1 and 2 diabetics.

The French pharma major’s decision to terminate the deal followed the release of mixed results in three Phase III studies.

Top-line results of the three studies are as follows:

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK