Prochymal: Development discontinued

Sanofi (Euronext:SAN; NYSE:SNY, Paris, France) disclosed in its 4Q11 earnings that it discontinued development of Prochymal, which was in Phase III testing for GvHD. As a result of Sanofi's decision, Osiris said it will regain exclusive rights to Prochymal outside of the U.S. and Canada. Osiris also said development and commercialization efforts will continue. Sanofi gained rights to Prochymal through its 2011 acquisition of Genzyme Corp., which had rights under a 2008 deal. ...