Sanofi SA (ADR) Diabetes Drug Toujeo Gets FDA Green Signal

February 26, 2015 11:05 AM

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Sanofi SA (ADR) (NYSE:SNY) announced after markets closed for trading on Wednesday that it has received marketing approval from the US Food and Drug Administration (FDA) to sell its new insulin product Toujeo in the US market. The approval is crucial for the French-based company as it attempts to maintain its leadership in the lucrative diabetes market, at a time when its star drug Lantus is set to lose patent protection soon.

Sanofi is relying on Toujeo, which is used to treat type 1 and type 2 diabetes, to help buoy sales decline that will be observed when the company’s best-selling diabetes drug Lantus goes off patent later this year.

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