* Discontinues experimental drugs iniparib and otamixaban
* Both drugs failed in late-stage studies
* Will book $285 mln after-tax charge in H1
(Adds drugs forecast details, comment by trader)
PARIS, June 3 Sanofi has stopped work
on two drugs in late-stage development, iniparib and otamixaban,
after tests showed both treatments failed to meet their main
The drugmaker, which has been looking to its development
pipeline to drive growth after the loss of patents covering
several blockbusters, said on Monday it would discontinue the
development of cancer treatment iniparib, which it had been
testing as a therapy for a type of lung cancer, and would book a
charge of $285 million after tax in its first-half accounts.
Sanofi acquired the drug as part of its 2009 acquisition of
U.S. cancer specialist BiPar Sciences for up to $500 million.
Sanofi said the charge will have no impact on its closely
watched business net income, which excludes items such as
amortisation and legal costs.
The company has also discontinued anticoagulant otamixaban
after it failed to meet its main goal of superiority over a
current therapy in reducing mortality or new heart attacks
during a late-stage trial.
Sanofi will not book any charges for the discontinuation of
otamixaban, a spokeswoman said.
Shares in Sanofi, which have gained around 15 percent of
their value since the start of 2013, closed at 82.51 euros on
"We were not particularly hopeful concerning these drugs and
the consensus had not modelled potential sales generated by
them. Consequently, this announcement will not have an impact on
long-term market expectations," said a Paris-based trader.
Iniparib had been forecast to book annual sales of $360
million by 2018, while otamixaban was expected to generate sales
of $270 million a year, according to Thomson Reuters Pharma
The results of both studies will be presented at upcoming
scientific meetings and will be published in peer-reviewed
(Reporting by Elena Berton and Blaise Robinson; Editing by Greg