Negative French reimbursement opinion on Sanofi-Aventis' Multaq worries investors

The French Transparency Commission, which recommends medicines' reimbursement prices under the country's health system, has given a low rating to domestic drug major Sanofi-Aventis' cardiovascular drug Multaq (dronedarone), according to a report by the local newspaper La Tribune, causing the company's shares to drop as much as 3% before recovering for a dip of 0.4% to 56.33 euros yesterday, as investors reassessed their views on the drug's potential.

The implication is that this treatment for atrial fibrillation may only be reimbursed at a rate of 35%, the newspaper said. In measuring the progress compared with other treatments, Multaq was given a score of 5, which indicates no progress has been made compared with current treatments, the newspaper said. If the scores result in a low price for the drug, then Sanofi-Aventis could decide not to sell it in France, the newspaper cited a person close to the commission as saying.

Also turned down by UK's NICE