Lexicon Pharmaceuticals Says It Terminated Sanofi Alliance

Date : 09/10/2019 @ 8:54PM
Source : Dow Jones News
Stock : Lexicon Pharmaceuticals Inc (LXRX)
Quote : 2.755  0.065 (2.42%) @ 6:34PM
Lexicon Pharmaceuticals share price Chart

Lexicon Pharmaceuticals Says It Terminated Sanofi Alliance

Lexicon Pharmaceuticals (NASDAQ:LXRX)
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   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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