Baxter International Inc., of Deerfield, Ill., has entered an agreement to acquire Seprafilm adhesion barrier and related assets from Paris-based Sanofi SA. The expected price at closing is $350 million, with the transaction anticipated to wrap up in the first quarter of 2020.
Shares of Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) fell 70.3% Monday to $1.69 as Sanofi SA terminated a $1.7 billion diabetes collaboration with the company. The decision followed two trials in which Zynquista (sotagliflozin), a dual SGLT inhibitor, failed to make a statistically significant dent in blood sugar control in patients with chronic kidney disease, a common result of diabetes.
