UPDATE: Sanofi falls 6% on news of EU generic Plavix, but it may not be substitutable
French drug major Sanofi-Aventis saw its share price fall as much as 5.9% to 47.50 euros on May 9. This stemmed from an announcement by Schweizerhall, a Swiss investment group focusing on listed and private health care companies, that it is close to approval for generic version of the blood thinner Plavix (clopidogrel) in Germany.
The copy was developed by Cimex AG, a Swiss specialty generics firm. Schweizerhall believes that it could launch this quarter in Germany and plans further European Union introductions with a major EU generic partner. It also notes that it could obtain marketing approval in Luxembourg within the second quarter of this year.
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