French financial prosecutors are investigating Sanofi for alleged market manipulation.
The preliminary probe opened in March involves alleged dissemination of misleading information related to the drugmaker’s financial communication, according to a judicial source who declined to be identified.
Sanofi said it isn’t aware of the investigation and its financial information is “accurate, precise and sincere.”
The probe relates to the launch of blockbuster medicine Dupixent in 2017, the person said. French online media La Lettre first reported the news.
The asthma and skin drug has since become Sanofi’s biggest seller. Sales of the antibody treatment could surpass $10 billion this year and go well beyond if the drug’s promise in treating a chronic lung disorder is confirmed.
The stock fell 0.6% in Paris. Sanofi shares tumbled on Oct. 27 when the company issued a surprise forecast for lower profit next year and said it would spin off the consumer-health division.
(Updates with detail on Dupixent in fourth paragraph)
