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U.S. Judge Certifies Class Action Lawsuit Against Sanofi SA-Reuters

Wednesday, 20 Mar 2013 07:10pm EDT 

Reuters reported that a U.S. judge certified a class of investors who have filed a lawsuit accusing Sanofi SA of misleading them about the status of regulatory approval for a failed anti-obesity pill. The judge said that investors in the Company's American depositary receipts could proceed together as a group in the litigation. Representatives for the Company did not respond to a request for comment. The lawsuit centers on the drug rimonabant, which was marketed as Acomplia in Europe and branded as Zimulti in the United States. The U.S. Food and Drug Administration had questioned the drug's safety in 2006. Investors sued in 2007, saying the Company and two executives misled shareholders about the drug's development.