Sanofi to pay $260 million to end deal with Lexicon

11 September 2019

Shares of Lexicon Pharmaceuticals (Nasdaq: LXRX) leapt 37.8% to $2.37 in post-market trading on Tuesday, after the company announced the ending of a four-year collaboration with French pharma major Sanofi (Euronext: SAN).

Lexicon has now terminated its alliance with Sanofi for the development and commercialization of Zynquista (sotagliflozin) and has settled related disputes with Sanofi, each effective September 9, 2019.

Back in July, Sanofi indicated that it wanted to drop further development of Zynquista following the release of mixed results in three Phase III studies, with the news at the time sending Lexicon shares plunging 50% to $2.82.

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