Sanofi pays Lexicon $260M on termination of Zynquista collaboration

Sep. 10, 2019 4:12 PM ETLexicon Pharmaceuticals, Inc. (LXRX), SNYSNY, LXRXBy: Douglas W. House, SA News Editor3 Comments
  • Lexicon Pharmaceuticals (NASDAQ:LXRX) has officially regained all rights to diabetes med Zynquista (sotagliflozin) after its collaboration agreement with Sanofi (NASDAQ:SNY) expired yesterday.
  • Under the terms of the settlement agreement, Sanofi agreed to pay Lexicon $260M, $208M upfront and the remaining $52M within 12 months.
  • The company will host a conference call today at 5:00 pm ET to discuss the matter.
  • Zynquista was approved in Europe in late August as an adjunct to insulin to improve blood sugar control in overweight adults with type 1 diabetes. The FDA rejected its marketing application in March after a split Ad Com vote.
  • Shares were up 21% today on more than double normal volume.

Recommended For You

Comments (3)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.