Sanofi takes a $260M hit to ex­tri­cate it­self from a dis­as­trous al­liance with Lex­i­con

Sanofi spent $300 mil­lion in cash to get in­to a $1.7 bil­lion al­liance with Lex­i­con on their SGLT1/2 di­a­betes drug so­tagliflozin. And now that the drug has been spurned by the FDA af­ter burn­ing through a pro­gram that pro­vid­ed mixed late-stage da­ta and a late shot at a last-place fin­ish, the French phar­ma gi­ant is fork­ing over an­oth­er $260 mil­lion to get out of the deal.

Sanofi’s un­hap­pi­ness was al­ready ap­par­ent when the com­pa­ny — now un­der new CEO Paul Hud­son — post­ed a state­ment back in Ju­ly that they were drop­ping the deal. But it wasn’t that sim­ple. 

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