Lexicon Pharmaceuticals (NASDAQ:LXRX)
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1 Month : From Aug 2019 to Sep 2019
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.
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(END) Dow Jones Newswires
September 10, 2019 16:39 ET (20:39 GMT)
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