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April 6, 2010, 7:27 a.m. EDT

Sanofi Settles More Eloxatin Patent Suits

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By Mimosa Spencer

PARIS—Sanofi-Aventis /zigman2/quotes/206928357/delayed FR:SAN -1.30% said Tuesday it has settled more patent infringement suits with generic drug makers over its cancer drug Eloxatin.

The French drug maker, which last week announced settlements with Teva Pharmaceutical Industries /zigman2/quotes/205657894/composite TEVA -1.12% Ltd., Fresenius Kabi Oncology Ltd. and Novartis /zigman2/quotes/203286410/delayed CH:NOVN +0.11% AG's generics unit Sandoz, said Tuesday it also struck deals with three other companies—Hospira Inc.'s Mayne Pharma Ltd., Par Pharmaceutical Companies Inc. and its partner MN Pharmaceuticals, and Iceland-based Actavis.

As part of the settlements, the six drug makers will stop selling unauthorized versions of Eloxatin, whose generic name is oxaliplatin, in the U.S. between June 30, 2010 and Aug. 9, 2012, after which the companies can sell their products under license.

Copycat versions of Eloxatin were launched in the U.S. last August after a court there ruled in June that generic drug makers who had challenged the Eloxatin patent didn't infringe Sanofi's patents. That badly hit Sanofi's sales of the drug, which dropped 35% last year to €957 million ($1.29 billion) from a year earlier.

Sanofi said it has also asked a court to prohibit Sun Pharmaceuticals from marketing a generic oxaliplatin product over the same period as the other companies.

Analysts said the settlements should lead to a sales boost for Sanofi. If the company reaches an agreement with Sun in addition to the six other generic manufacturers, J.P. Morgan analysts said they expect a modest increase in Eloxatin sales in 2011 and 2012 that would raise their estimates of Sanofi's embedded value by 1%.

The settlement agreements are subject to review by the Federal Trade Commission, the U.S. Department of Justice and Michigan's attorney general. Sanofi didn't give more details or reveal financial terms of the deals.

Shares of Sanofi fell 0.7% to €54.78 on a broadly higher Paris market. The stock has risen around 32% in value over the past 12 months.

Write to Mimosa Spencer at mimosa.spencer@dowjones.com

/zigman2/quotes/206928357/delayed
FR : France: Euronext Paris
84.76
-1.12 -1.30%
Volume: 2.11M
Sept. 22, 2020 5:36p
P/E Ratio
9.58
Dividend Yield
3.72%
Market Cap
€107.90 billion
Rev. per Employee
€330,656
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/zigman2/quotes/205657894/composite
US : U.S.: NYSE
$ 8.85
-0.10 -1.12%
Volume: 9.35M
Sept. 22, 2020 4:00p
P/E Ratio
3,052
Dividend Yield
N/A
Market Cap
$9.78 billion
Rev. per Employee
$441,818
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/zigman2/quotes/203286410/delayed
CH : Switzerland: SWX
CHF 81.67
+0.09 +0.11%
Volume: 4.68M
Sept. 22, 2020 5:31p
P/E Ratio
26.67
Dividend Yield
3.61%
Market Cap
CHF179.86 billion
Rev. per Employee
CHF405,818
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