(Reuters) – Shares in Sanofi slumped 5.3% after an oral drug candidate to fight a common type of breast cancer that grows in response to oestrogen failed to slow progression of the disease in a clinical trial.
Results from the Phase II AMEERA-3 clinical trial, keenly awaited by Sanofi investors, showed that the drug amcenestrant, given as a pill, did not have the desired effect when compared to standard endocrine treatment against locally advanced or metastatic breast cancer, The French drugmaker said in a statement.
The stock’s decline was the biggest on the French bluechip index CAC40 index, which was up by 0.6 % in early trading on Monday
Amcenestrant belongs to a drug class known as selective oestrogen receptor degraders (SERD) to fight oestrogen receptor-positive breast cancer.
It has the same mode of action as AstraZeneca’s injectable Faslodex, also known as fulvestrant, and a range of generic copy products that are also on the market, but a pill would be a more convenient option for patients than painful monthly shots.
The market opportunity for oral SERDs has attracted a range of drugmakers, with Roche, AstraZeneca and Radius Health Inc working on similar pills.
(Reporting by Ludwig Burger in Frankfurt, Editing by Louise Heavens)
