We are investigating Sanofi (SNY) (“Sanofi” or the “Company”) for potential violations of the federal securities laws.
Sanofi produces and markets Zantac® products in the US and Canada, which are used for the prevention and relief of heartburn. On September 13, 2019, the U.S. Food and Drug Administration announced that some medicines containing ranitidine, including Zantac, had traces of a probable cancer-causing impurity called N-nitrosodimethylamine (NDMA) at low levels. The European Medicines Agency said it will also start a review of the over-the-counter heartburn drug. Moreover, in a class action complaint filed that same day it is alleged that Sanofi knowingly concealed the carcinogenic risks posed by Zantac in an effort to generate undue profits. On this news, the price of Sanofi’s American depositary receipt fell.