French financial prosecutors have launched a preliminary probe into Sanofi over possible price manipulation, reported several media sources.
French online media outlet La Lettre first reported that France's National Financial Prosecutor's Office (PNF) had opened an investigation linked to Sanofi's financial communication around the launch of its blockbuster drug Dupixent in 2017.
The person close to the investigation confirmed to Reuters that the probe was opened in March, despite Sanofi claiming the company was unaware of any criminal investigation.
"As a listed company, the financial informations published by Sanofi are accurate, precise and sincere, and are duly audited by two auditing firms," Sanofi told Reuters and other media outlets.
Dupixent, jointly developed by Regeneron and Sanofi, is a fully human mAb injectable that inhibits the signaling of the IL-4 and IL-13 pathways. Now a blockbuster, the drug was first approved by the FDA in March 2017 for eczema and approval was later expanded to include asthma, eosinophilic esophagitis and broader eczema patient groups. Sanofi is currently pursuing the drug's use in COPD as well.
Sanofi touted the strong update of the drug shortly after its launch in the company's second quarter 2017 earnings, reporting that the drug generated sales of €26 million (approximately $30.3 million) and 13,000 prescriptions in the first four months on the market. Last year, the drug reached $8.9 billion in sales.