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Friday, January 28, 2011

Sanofi shares drop on cancer drug setback, (SASY)

Shares in French drugmaker Sanofi-Aventis (SASY.PA) fell on Friday after the lead drug in its research pipeline failed in late-stage clinical trials. Sanofi said iniparib, or BSI-201, an experimental drug to treat a type of advanced breast cancer, had failed to extend life or slow disease progression. The cancer drug was expected to bring $800 million in revenue as of 2015 and brokers including Deutsche Bank said they were cutting their estimates for Sanofi's future earnings.

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