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  4. Sanofi Shares Slide After Trials of Potential Breast Cancer Drug Halted
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Sanofi Shares Slide After Trials of Potential Breast Cancer Drug Halted

By Scott Kanowsky AiVIF.com -- Sanofi SA (EPA:SASY) shares slid on Wednesday after the French drugmaker announced that it will halt trials of a new treatment for patients...
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Sanofi Shares Slide After Trials of Potential Breast Cancer Drug Halted

By Scott Kanowsky

AiVIF.com -- Sanofi SA (EPA:SASY) shares slid on Wednesday after the French drugmaker announced that it will halt trials of a new treatment for patients battling advanced breast cancer.

In a statement, the company said it would stop global clinical development of the medicine, known as amcenestrant, after a phase 3 study showed it was not effective enough to warrant further research.

All other studies of amcenestrant, including in early-stage breast cancer, will also be discontinued, Sanofi added.

“While we are disappointed by this outcome, our research will further the scientific understanding of endocrine therapies in people with breast cancer," said John Reed, global head of research and development at Sanofi.

In a note, analysts at Morgan Stanley called the decision a "setback for the innovation narrative" put forward by Sanofi, saying that amcenestrant had been flagged as a potentially lucrative piece in the group's drug pipeline.

The end of Sanofi's amcenestrant trials is expected to lead to a 6% negative impact on the company's estimated discounted cash flow, according to the Morgan Stanley analysts.

The decision could also have a knock-on effect on studies being conducted on similar breast cancer drugs from Sanofi rivals Roche (SIX:ROG) and AstraZeneca PLC (LON:AZN), the analysts added.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

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USD/JPY

157.91

+0.12 (+0.07%)

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AUD/USD

0.6469

-0.0003 (-0.05%)

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

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EUR/CHF

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Gold Futures

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26.677

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4.5305

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Brent Oil Futures

85.62

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

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DAX

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FTSE 100

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US Small Cap 2000

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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