Lawsuit claims Sanofi dragged its feet on Lemtrada OK to avoid rights payoff

Sanofi ($SNY) is accused of stalling its multiple sclerosis drug Lemtrada to avoid paying out $708 million to rights holders as required by its 2011 deal to buy Genzyme. As part of that deal, the French drugmaker agreed to a series of milestone payments, including an FDA approval deadline for Lemtrada. A lawsuit filed on behalf of rights holders claims Sanofi deliberately filed a substandard approval application to delay the FDA nod. Report