The title lost 17% in one month. (© Sanofi)
The title of the laboratory has just lost 17% in one month. On August 9, the UBS research office reduced its price target on Sanofi from 118 to 103 euros due to the Zantac affair, a drug against liver attacks accused of causing cancers, but also the weakness its pipeline of new treatments and a possible slowdown in growth in the second half.
announced the abandonment of its research on Amcenestrant, a treatment against breast cancer.
The Zantac affair dates back to September 2019, when the US Food and Drug Administration (FDA) issued an alert on certain ranitidine drugs, including Zantac. Sanofi was one of the last major labs to bring it to market following a portfolio swap with Boehringer Ingelheim in 2017.
Trials involving Sanofi will not open until January 2023 in California, a state known to be generous with victims. They could be completed in 2024-2025. In its defense, the French laboratory believes that “the FDA and the European Medicines Agency (EMA) have found no evidence that ranitidine causes cancer”. The compensation in this type of case is estimated at 100,000 euros on average per plaintiff.
Oddo BHF analysts cautiously estimate the share
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