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Sanofi Partners With Lexicon to Develop Diabetes Solution
November 17, 2015
French pharmaceutical giant Sanofi is partnering with Lexicon Pharmaceuticals to develop and commercialize sotagliflozin to treat diabetes.
The deal was struck a day after Sanofi announced a licensing deal worth $4.2 billion with South Korea's Hanmi Pharmaceutical for rights to a trio of next-generation diabetes medicine.
Sotagliflozin is being studied in two pivotal Phase 3 trials in Type 1 diabetes, and Phase 3 trials in Type 2 diabetes are expected to begin in 2016.
The Woodlands, Texas-based Lexicon will receive an upfront payment of $300 million, with the potential of milestone payments up to $1.4 billion. The company will be responsible for clinical development, and Sanofi will gain exclusive worldwide rights to develop, manufacture and commercialize sotagliflozin.
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