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PARIS: Sanofi is ending development of a key cancer medicine in a blow to the French drugmaker’s pipeline of experimental therapies.
The decision to stop all studies with amcenestrant follows an analysis of late-stage trial data evaluating the drug in patients with a type of breast cancer, the company said in a statement yesterday.
The move leaves Sanofi even more dependent for growth on blockbuster Dupixent, an antibody treatment for ailments ranging from asthma to severe eczema.
The company’s slate of experimental medicines has faced other setbacks, including safety concerns regarding multiple sclerosis treatment tolebrutinib.,
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Sanofi has included both amcenestrant and tolebrutinib as among six products in its pipeline that it prioritised as “potentially transformative” treatments.
Some investors are questioning the company’s growth trajectory after both of those medicines encountered problems.
UBS analysts last week downgraded Sanofi, saying there are few major catalysts coming soon to drive more excitement to the stock. — Bloomberg