Sanofi faces U.S. class action over MS drug Lemtrada

A U.S. law firm is launching a class action against France’s Sanofi over what it calls misleading statements on the safety and efficacy of its multiple sclerosis drug Lemtrada. Sanofi acquired Lemtrada when it bought U.S. biotech firm Genzyme for $20.1 billion in 2011. The drug’s prospects took center-stage in a drawn-out takeover battle and led to a deal in which Genzyme shareholders received listed contingent value rights (CVRs) linked to Lemtrada’s future success. The firm alleged that over this period, Sanofi and some of its senior executives made false and misleading statements about its business and the prospects for Lemtrada, and misled investors over the design of its clinical trials on the drug.