Lexicon Pharmaceuticals Says It Terminated Sanofi Alliance
September 10 2019 - 4:54PM
Dow Jones News
By Stephen Nakrosis
Lexicon Pharmaceuticals Inc. (LXRX) said Tuesday it had
terminated an alliance with Sanofi to develop and commercialize
Zynquista.
Zynquista, or sotagliflozin, has been approved in the European
Union for use as an adjunct to insulin therapy in adults with type
1 diabetes. Besides that approval, Zynquista is investigational and
hasn't been approved by any other regulatory authority for type 1
or type 2 diabetes, Lexicon said.
Lexicon said it will regain all rights to Zynquista and take
responsibility for worldwide development and commercialization in
both type 1 and type 2 diabetes.
Sanofi will pay Lexicon $260 million, of which $208 million is
payable upfront. The remaining money is payable within 12 months,
Lexicon said.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 10, 2019 16:39 ET (20:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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